Yuga Labs has officially sold the Moonbirds, Mythics, and Oddities NFT collections to crypto gaming studio Orange Cap Games (OCG), continuing a broader strategy to refocus on its core assets.
The deal, announced by OCG on May 30, did not disclose financial terms but marks a major shift just over a year after Yuga Labs acquired these collections by purchasing PROOF, the original creator.
Greg Solano, co-founder of Yuga Labs, stated that Moonbirds would be in better hands with a team fully dedicated to the project. “Moonbirds deserve a team whose whole world is the birds,” he said, emphasizing that Yuga will now concentrate more heavily on its flagship brands like Bored Ape Yacht Club, Mutant Apes, and its Otherside metaverse.
Despite the change in ownership, Moonbirds will still play a role in the Otherside universe. Additionally, any future onchain assets from the new team will remain on Ethereum or Yuga’s own ApeChain network.
Price Reaction and Market Context
Following the announcement, Moonbirds NFTs saw a notable price spike, rising to 0.9 ETH—more than triple their previous value. However, this is still far from their 2022 peak of 38.5 ETH, reflecting the broader decline in the NFT market over the past two years.
Yuga Labs’ decision to sell the Moonbirds IP is part of a larger trend. The company has steadily offloaded several other collections, including CryptoPunks and Meebits. In each case, Yuga either relinquished or significantly reduced its ownership, often transferring rights to other organizations or foundations.
Wider Industry Movement
These sales come at a time when the NFT market is showing signs of life after a prolonged slump. According to recent data, unique NFT buyers rose by 50% in May, reaching 936,000. Total NFT trading volume also increased to $430 million, a 15% uptick from April.
Other major companies are also entering or re-engaging with the digital collectibles space. On the same day as the Moonbirds deal, Disney revealed a partnership with Dapper Labs to introduce a new loyalty program where Disney+ subscribers will receive monthly digital pins—another signal that the NFT market might be poised for a rebound.