The Crypto Gaming Startup Orange Cap Games (OCG) captures Ethereum’s intellectual property that is not based on the token collection Moonbirds from Yuga Labs.
OCG Says On May 30 it bought the Moonbirds, myths and weird NFT collections from Yuga, but it did not disclose the details or pricing of the deal.
It came a little bit a year after Yuga obtained three collections leading the company that created them, proof, in February.
“Moonbirds deserve a team whose whole world is the birds, and nothing better than orange cap games to help them reach their potential,” Yuga Labs co-founder Greg Solano Says.
He added that Yuga was “focused on the laser” in its original collections, which included once with a high-price bored Yacht Club and the various spinoffs, including the Mutant Ape Yacht Club as well as the long-in-development metaverse, others.
As part of the deal, Moonbirds will still be launching others and any new onchain-created onchain assets will be hosted on the Layer-2 network of Ethereum or Yuga, Apechain.
Moonbirds have more than three times in price at 0.9 ETH after the acquisition news. However, the collection still dropped almost 98% from the entire time 38.5 ETH in April 2022, According to In coingecko.
Yuga Labs IP Sell-off
Yuga continues to offload NFT collections and intellectual properties because the NFT market has taken a sharp dive and Continue to see low trading quantities.
Earlier in May, Yuga sold intellectual rights of cryptopunks. Terms of deals are not disclosed.
In February, the MeeBit Company got meebits from Yuga Labs; However, Yuga still has a minority stake, with a venture firm 1confirmation part of the deal.
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Last year, Yuga Sold The IPs of the two of its games, the HV-MTL and Mara myths, in a move to re-focus the organization’s major collections.
Meanwhile, on May 30, Disney announced This has cooperated with Dapper Labs, NBA creators Top Shots and Cryptokitties, to launch the new loyalty program. Disney+ subscribers will receive a digital pin each month.
Downtrend for NFTs seems to have ended.
In May, unique NFT buyers increased By 50% to 936,000 from last month, while NFT volume increased to $ 430 million, an increase of 15% from April.
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