Yuga Labs Acquires PROOF, Expanding Web3 Lifestyle and Media Portfolio

YUGA Labs and PROOF banners

Yuga Labs, a leading web3 lifestyle and media company, has acquired PROOF, including its PROOF Collective and Moonbirds collection, in a strategic move to solidify its position as a frontrunner in the web3 space. The acquisition underscores Yuga’s commitment to championing digital art and community engagement on the blockchain.

A Strategic Acquisition

Yuga Labs, a prominent web3 lifestyle and media company known for its creation of iconic projects like the Bored Ape Yacht Club and Otherside, has announced its acquisition of PROOF. PROOF encompasses various entities, including the PROOF Collective, Moonbirds, Oddities, Mythics, and Grails exhibition series.

The acquisition marks a strategic move for Yuga Labs, aligning with its vision to position itself as the forefront entity of web3. By integrating PROOF’s assets, including its team, intellectual property, and artistic portfolio, Yuga Labs aims to strengthen its presence in the digital art and culture space.

Championing Arts on Blockchain

Daniel Alegre, CEO of Yuga Labs, expressed excitement about the merger, emphasizing the synergies between Moonbirds and Otherside. Alegre stated, “As a company committed to championing art, culture, and community on the blockchain, we’re excited to have PROOF join the Yuga ecosystem. Moonbirds is a collection with great potential and many unifying brand elements with Otherside.”

Kevin Rose, CEO & Founder of PROOF, will undergo a brief transition period before assuming an advisory role within Yuga Labs. Alongside the PROOF team’s integration into Yuga, key figures such as Josh Ong, Jesse Bryan, and Amanda Gadbow will oversee the migration of the Moonbirds collection and other essential elements into the Yuga ecosystem.

A Perfect Home

Rose expressed enthusiasm about the partnership, noting, “We’re very excited to bring Moonbirds into Otherside. It’s the perfect home and future for our collectors. With the PROOF Collective on board, it shows Yuga’s commitment to digital fine art, and our combined resources will allow us to innovate faster and reach more people.”

The acquisition of PROOF signifies a significant step for Yuga Labs in expanding its foothold in the burgeoning web3 landscape. With a shared commitment to advancing digital art and community engagement, the collaboration between Yuga Labs and PROOF is poised to drive innovation and foster creativity within the web3 ecosystem.

Author: Jinka

Jinka is a self-trained crypto journalist, passionate about happenings in the industry.

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