In a move shaking up the NFT landscape, Yuga Labs has sold the intellectual property rights of its Moonbirds collection to Orange Cap Games, a company known for its innovative approach to trading card games. This marks Yuga Labs’ second major divestment, following the earlier sale of CryptoPunks, as the company refocuses on its flagship projects like Bored Ape Yacht Club and the Otherside metaverse .
What’s Changing for Moonbirds?
Moonbirds, once a high-flying NFT collection with a floor price above 28 ETH, had seen its value drop to as low as 0.30 ETH amid a broader NFT market slowdown. However, news of the acquisition sparked renewed interest, with the floor price rebounding to 0.47 ETH and daily trading volumes surging by nearly 580% . The collection, which includes 10,000 unique NFTs and is currently held in over 5,800 wallets, also encompasses the Mystics and Oddities sub-collections, all now under Orange Cap Games’ stewardship .
Why Did Yuga Labs Sell?
Yuga Labs’ decision to sell Moonbirds is part of a broader strategy to ensure the longevity and relevance of its NFT assets. By transferring ownership to a company focused on gaming and collectibles, Yuga Labs aims to give Moonbirds a fresh start and new opportunities for growth, especially as the NFT market evolves .
Orange Cap Games’ Vision
Orange Cap Games plans to expand the Moonbirds universe by integrating the collection into its real-world products and digital games. The company sees untapped potential in Moonbirds, which it intends to unlock through new use cases and community engagement. Notably, Moonbirds will remain an Ethereum-based collection for now, with any future migration to Yuga Labs’ ApeChain network reserved for scaling and faster transactions .
The partnership between Orange Cap Games and Yuga Labs isn’t ending with the sale. Moonbirds are set to appear as 3D avatars in the Otherside metaverse, ensuring continued collaboration between the two companies .
What’s Next for NFT Collectors?
The Moonbirds acquisition signals a trend where NFT collections are finding new life through integration with gaming and other digital experiences. As Orange Cap Games brings Moonbirds into its ecosystem, collectors can expect more interactive and engaging ways to use their NFTs, potentially boosting both value and community activity.
For those tracking the NFT market, this deal highlights the ongoing evolution of digital collectibles and the growing intersection between NFTs and gaming.
