Yuga Labs Sells Moonbirds IP to Orange Cap Games: A Strategic Shift in the NFT Landscape

In a move that signals a shift in focus for Yuga Labs, the company sold its iconic Moonbird intellectual property (IP) to Orange Cap Games in October 2023. This divestment marks another strategic step by Yuga Labs, aiming to prioritize its most promising NFT projects and accelerate its involvement in blockchain gaming. The sale has sparked significant market reactions, with the Moonbirds floor price soaring as investors anticipate potential market shifts in the Ethereum NFT space.