Yuga Labs Acquires PROOF

Yuga Labs, the leading web3 lifestyle and media company and creators of the Bored Ape Yacht Club, Otherside, TwelveFold, and owners of Meebits, CryptoPunks, and 10KTF has acquired PROOF, which includes the PROOF Collective, Moonbirds, Oddities, Mythics, and Grails exhibition series.

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. Yuga will start by bringing Moonbirds into Otherside, the place where content creators, communities, and brands will come together to participate in the social fabric of web3.

"As a company committed to championing art, culture, and community on the blockchain, we're excited to have PROOF join the Yuga ecosystem," said Daniel Alegre, CEO of Yuga Labs. "Moonbirds is a collection with great potential and many unifying brand elements with Otherside. We look forward to PROOF Collective becoming an important part of our ongoing art and community engagement efforts."

Kevin Rose, CEO & Founder of PROOF, will undergo a brief handover period before becoming an advisor to the company. In addition to the PROOF team that will move over to positions at Yuga, Josh Ong, Jesse Bryan, and Amanda Gadbow will oversee the transition of the Moonbirds collection and other key elements into the Yuga ecosystem.

"We're very excited to bring Moonbirds into Otherside. It's the perfect home and future for our collectors," said Kevin Rose, CEO & Founder of PROOF. "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."

About Yuga Labs

Yuga Labs is the leading web3 lifestyle and media company offering creative brand IP/NFT projects, gaming, and community experiences. Guided by the belief that the potential of web3 can be realized when we start with imagination, not limitations, Yuga's initiatives aim to reinvent what NFTs look like and push the space forward as a whole. Yuga Labs' mission is to build culture on the blockchain, and owns the IP to the most significant projects in web3, including Bored Ape Yacht Club, MAYC, CryptoPunks, 10KTF, and Meebits.

Since their launch in April 2021 with flagship collection Bored Ape Yacht Club, they've made headlines as one of the first companies to release IP licenses to their NFT holders, acquired and released rights to other top collections (CryptoPunks and Meebits), and made web3 history with record-breaking synchronized player participation in Otherside. One of the most ambitious interactive metaverse projects to date, Otherside is built with the community, rebelling against traditional walled gardens in gaming spaces.

About PROOF Holdings Inc

PROOF is a leading digital art platform and art collector community driven by the belief that art is proof of our collective humanity. PROOF's mission is to create unique experiences for art collectors to connect with artists and own and champion their art. Co-founded in 2021 by tech entrepreneur and media producer Kevin Rose and digital artist Justin Mezzell, PROOF has built a community of artists and art collectors focused on the intersection of art, technology, and innovation. By curating art drops and exhibitions and producing research and informational content, PROOF is dedicated to amplifying the stories behind art that help define its value beyond price.