Yuga Labs, the company behind Bored Ape Yacht Club, is offloading its NFT intellectual properties, including the recently acquired Moonbirds IP, sold to Orange Cap Games. Yuga cofounder Greg Solano stated that Moonbirds needs a dedicated team to enhance their potential, adding that Yuga's focus is now primarily on Apes and their metaverse project, Otherside. The new owner of Moonbirds, Orange Cap Games, had previously developed a Pudgy Penguins-themed trading card game. Following the sale, there's speculation about further cuts to Yuga-related projects. Some executives feel initiatives like the Apecoin DAO may no longer be needed, amid evolving regulatory landscapes. Yuga has previously faced challenges, including a legal lawsuit over securities allegations related to its NFT ventures. Recently, the firm has strategically sold off various IP assets, hinting at a potential re-evaluation of its expansive approach in the crypto market. Yuga's ongoing metaverse project, Otherside, aims for a persistent launch soon, having experienced significant hype and challenges during its initial land minting in 2022.

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