Yuga Labs, a prominent development company in the Web3 and non-fungible token (NFT) space, has recently announced its acquisition of NFT collective PROOF and its assets. This strategic move aligns with Yuga Labs’ vision of becoming the gateway to Web3.

PROOF is known for its impressive NFT collections, including Moonbirds, Oddities, and Mythics. As part of the acquisition, Yuga Labs plans to integrate Moonbirds into its Otherside platform, a metaverse with gamification features that is currently being developed.

Daniel Alegre, the CEO of Yuga Labs, expressed enthusiasm about the partnership, stating, “As a company dedicated to promoting art, culture, and community on the blockchain, we are thrilled to welcome PROOF into the Yuga ecosystem. Moonbirds holds immense potential and shares many cohesive brand elements with Otherside. We are excited to have PROOF Collective play a crucial role in our ongoing efforts to engage with the art community.”

Kevin Rose, the CEO and founder of PROOF, also shared his excitement about the integration of Moonbirds into Otherside, stating, “We are incredibly excited to bring Moonbirds into Otherside. It is the perfect home for our collectors and represents a promising future. Yuga’s commitment to digital fine art is evident with the inclusion of the PROOF Collective, and our combined resources will enable us to innovate faster and reach a broader audience. This journey is going to be exhilarating.”

In conclusion, Yuga Labs’ acquisition of PROOF and its NFT collections marks a significant step towards establishing itself as a leader in the Web3 space. The integration of Moonbirds into Otherside will further enhance the platform’s offerings and provide new opportunities for art enthusiasts and collectors.