Web3-based firm, Yuga Labs, recognized for creating the celebrated Bored Ape Yacht Club NFT series, has made a public announcement regarding its intent to acquire Roar Studios, an expert in gaming and music. Eric Reid, founder and current CEO of Roar Studios, is slated to join the Yuga Labs team as the general manager of Otherside, the latter’s impending blockchain-based metaverse game.
The move is a strategic alignment of goals, as both firms have a shared vision for creating community-driven, immersive gaming experiences. Regarding the merger, Reid stated the following: “Our team’s mission is to empower players to create and be social in a community-driven, open-media experience, so our work fundamentally aligns with Yuga’s larger Web3 metaverse strategy.”
A Distinctive Blend of Entertainment and Tech
Eric Reid brings a diverse background to his role, boasting of previous engagements in legal and entertainment industries. He was the former COO and Co-CEO of the Hollywood production company Lakeshore Entertainment, behind successful films such as the “Underworld” franchise and “Million Dollar Baby.” In 2021, Roar Studios raised $7 million from entities like Galaxy Interactive with an ambitious aim of constructing a “music metaverse.” This venture aimed to provide players, through their virtual avatars, the ability to play music, enhancing the gaming experience.