Catenaa, Sunday, June 22, 2025-Yuga Labs, creator of the Bored Ape Yacht Club, has sold the Moonbirds intellectual property to gaming startup Orange Cap Games, continuing a series of NFT IP divestments amid a prolonged market downturn.
The announcement was made Friday via Moonbirds’ official X account, marking the second major NFT brand sale by Yuga Labs this month.
Earlier, the company transferred the CryptoPunks IP to a nonprofit endowment focused on preserving digital art. Yuga Labs also sold the Meebits IP in February.
The NFT market has suffered significant declines over the past year, with trading volumes for leading collections dropping by 95%, according to DappRadar.
Yuga Labs is now concentrating its efforts on the Bored Ape Yacht Club and its Otherside metaverse project.
Co-founder Greg Solano said Friday on X that the company is “laser-focused” on these core initiatives and teased additional developments in the pipeline.
Orange Cap Games, a relatively new player in the industry, stated its mission is to revitalize popular IPs through curated experiences aimed at expanding and engaging fan communities. The company has previously developed a collectible card game based on Pudgy Penguins, another notable NFT project.
Solano praised Orange Cap Games for its expertise, saying Moonbirds “deserve a team whose whole world is the birds,” and expressed confidence in the new owner’s ability to maximize the IP’s potential.
Future on-chain components for Moonbirds will operate on either a mainnet blockchain or Yuga Labs’ Layer-2 ApeChain, according to Orange Cap Games.
The move underscores Yuga Labs’ strategic shift from acquiring multiple NFT brands to focusing on its flagship projects amid ongoing market challenges.
