Yuga Labs has sold the Moonbirds NFT collection to Orange Cap Games, transferring ownership of one of Web3’s most recognized art IPs after months of silence from its previous team. The deal includes the Moonbirds, Mythics, and Oddities collections and marks a new direction for both companies.
Notably, Yuga acquired Moonbirds via its purchase of Proof Collective in 2024, and is divesting the project less than two years later.
Orange Cap Games says it aims to give the dormant community “a new flight path” through product-led development focused on gaming, collectibles, and culture.
OCG’s Strategy Behind the Moonbirds Move
Orange Cap Games (OCG), known for building the Vibes TCG trading card ecosystem, confirmed that it will steward the Moonbirds IP with a broader plan to activate new experiences around the collection.
The company emphasized a product-first approach and stated that any new on-chain components of Moonbirds will be hosted either on Ethereum mainnet or ApeChain, Yuga Labs’ Layer 2 blockchain.
According to OCG, this acquisition was months in the making and only a few insiders were aware prior to the public announcement. The company stated it plans to integrate Moonbirds into its gaming universe and possibly release new products under the brand.
Having previously partnered with the Pudgy Penguins IP for its debut card sets, OCG now expands its portfolio by gaining access to another high-profile NFT brand with strong cultural relevance.
The team has also developed a custom paper stock for its physical products, reflecting its focus on tangible quality. That same attention to detail, OCG says, will guide its work on Moonbirds going forward.
Meanwhile, Yuga Labs’ decision to part with Moonbirds aligns with its broader internal pivot toward key assets such as the Otherside metaverse, the Bored Ape Yacht Club (BAYC), and the ApeCoin ecosystem.
In April 2025, Yuga also handed over the rights to Meebits and CryptoPunks to new stewards, reflecting a consistent strategy of consolidating efforts around core projects.
Despite the ownership shift, Moonbirds remains positioned for integration within Otherside. OCG confirmed that full 3D avatars will be made available to Moonbirds holders for use in metaverse environments, preserving cross-project utility.
Beyond the Deal: Yuga Labs’ Portfolio Shift and the NFT Market’s New Direction
The Moonbirds IP originated from Proof Collective and was sold to Yuga Labs in January 2024. At the time, the acquisition was welcomed by Moonbirds holders who anticipated more robust support and deeper ecosystem integration.
However, in the months that followed, activity surrounding the IP slowed, as Yuga Labs diverted its focus to metaverse-related developments.
According to CoinGecko, Moonbirds launched in April 2022 and generated more than $280 million in primary and secondary trading volume within its first few weeks.
The project stood out for blending fine art visuals with utility-focused membership. But by mid-2023, amid a market downturn and leadership transitions, the brand’s direction became increasingly uncertain.
Industry analysts have since identified a trend among top NFT firms with consolidation and strategic reallocation of assets. As trading volumes fall and market maturity sets in, major players are shifting toward long-term brand development and leaner operational models.
By transferring Moonbirds to OCG, a studio that specializes in building product ecosystems, Yuga Labs appears to be reducing internal overhead while still enabling interoperability via ApeChain and support within the Otherside metaverse.
No financial details about the acquisition have been disclosed publicly. Orange Cap Games now holds full creative rights and distribution control over Moonbirds and all related sub-collections.
With the IP transfer complete, the next phase of updates will come from OCG, as it begins engaging the Moonbirds community and rolling out new developments.
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