Yuga Labs sells Meebits intellectual property, focusing on Bored Ape Yacht Club and Otherside
The company MeebCo, supported by 1confirmation, has acquired Meebits from Yuga Labs. The specific acquisition amount has not been disclosed yet. It is reported that Meebits will launch a participation-driven reward system Bits and establish a partnership with OpenSea. After the sale of Meebits, Yuga Labs plans to focus on the Bored Ape Yacht Club NFT brand and its Otherside metaverse project.
Daniel Alegre, CEO of Yuga Labs, once stated that after the company's restructuring and layoffs in October 2023, priority will be given to developing Otherside while leveraging existing brand partnerships. The company also acquired Proof Collective and its NFT series Moonbirds, planning to incorporate this project into Otherside at the beginning of last year.
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