Yuga Labs sells Meebits intellectual property, focusing on Bored Ape Yacht Club and Otherside

Golden Finance reported that MeebCo, a company supported by 1confirmation, has acquired Meebits from Yuga Labs, with the specific acquisition amount not yet disclosed. It is reported that Meebits will launch a participation-driven reward system called 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. Yuga Labs CEO Daniel Alegre has stated that following the company’s restructuring and layoffs in October 2023, the company will prioritize the development of Otherside while leveraging existing brand partnerships. The company also acquired Proof Collective and its NFT series Moonbirds, with plans to integrate the project into Otherside in early last year.