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Talking of BAYC…keep in mind again in 2012 when Fb acquired Instagram?
One thing related simply occurred within the NFT area.
(Sounds bizarre, however hear us out.)
Yuga Labs (the corporate behind NFT initiatives like Bored Ape Yacht Membership) simply acquired Proof Collective (who created the Moonbirds NFT venture).
“So what? Acquisitions occur on a regular basis!”
Which is true, however this can be a huge acquisition. Not essentially in monetary phrases (it may be, we don’t know), however by way of what it might imply for the NFT business as an entire.
See, Yuga Labs is sort of like ‘the Fb of NFT corporations.’ There are tons of NFT initiatives, identical to there have been tons of social networks vying for the highest spot (shoutout to Tom from MySpace) — however Yuga has created essentially the most profitable one to this point, with Bored Ape Yacht Membership.
Then they began the acquisitions…
First with Meebits and CryptoPunks, now with Moonbirds.
Right here’s our take:
It’s not the acquisitions that matter, however what you do with them that counts. And we get it — beginning a local Web3 firm is arduous! It takes time.
Yuga Labs have been engaged on their ‘Otherside’ metaverse for the previous few years, and are quickly releasing the Otherside metaverse recreation (which is able to embody characters from all of their portfolio NFT collections).
This launch would be the deciding second on whether or not or not all of this time, cash, and arduous work has been price it.
Now we have our fingers, toes, and eyes crossed, hoping it’s!