In a strategic move, Yuga Labs has successfully acquired the web3 project PROOF. The acquisition broadens Yuga Labs' extensive portfolio of NFT projects, which already boasts renowned names like Bored Ape Yacht Club, Mutant Ape Yacht Club, CryptoPunnks, Meebits, TwelveFold, and Otherdeeds.

The highlight of this acquisition is the addition of Moonbirds, PROOF's leading NFT project, to Otherside, Yuga Labs' ambitious metaverse project. Alongside Moonbirds, Yuga Labs will integrate PROOF Collective, Oddities, Mythics, and Grails exhibition series into its expanding portfolio.

Iconic NFTs 

In a statement released on Friday, Yuga Labs expressed its vision for becoming the primary gateway to web3. "The acquisition of PROOF’s assets, including its team, intellectual property, and artistic portfolio, aligns with Yuga’s vision to become the front door of web3," the company stated.

Daniel Alegre, CEO of Yuga Labs, emphasized the company's commitment to championing art, culture, and community on the blockchain. Alegre sees Moonbirds as having significant potential to unify brand elements with Otherside. "We look forward to PROOF Collective becoming an important part of our ongoing art and community engagement efforts," Alegre added.

Leadership and Advisory

Following the completion of the handover, Kevin Rose, CEO & Founder of PROOF, will transition to an advisory role at Yuga Labs. Additionally, key members of the PROOF team will assume prominent positions within Yuga Labs. The transition of the Moonbirds collection and other essential elements into the Yuga ecosystem will be overseen by Josh Ong, Jesse Bryan, and Amanda Gadbow.

Kevin Rose expressed enthusiasm about the move to Otherside, emphasizing the benefits for PROOF's NFT 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. It’s going to be an exciting journey," Rose said.

Yuga Labs' acquisition of PROOF not only signifies a strategic expansion of its NFT portfolio but also underscores its dedication to fostering innovation and community engagement within the ever-evolving web3 landscape.