Crypto gaming startup Orange Cap Games (OCG) has acquired the intellectual property of the Ethereum-based NFT collection Moonbirds from Yuga Labs. OCG purchased Moonbirds, along with the Mythics and Oddities collections, but specifics regarding the deal were not disclosed. This acquisition follows Yuga Labs' previous acquisition of PROOF, the creator of Moonbirds, in February 2024. Yuga Labs co-founder Greg Solano emphasized that Moonbirds would benefit from a dedicated team at OCG. Despite this news causing a rise in Moonbirds' price to 0.9 ETH, the collection still remains down nearly 98% from its all-time high of 38.5 ETH in April 2022. Yuga Labs continues to restructure, having recently sold other NFT intellectual properties as the market has declined. Unique NFT buyers increased by 50% in May, indicating a potential end to the NFT market downtrend.

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