Yuga Labs has sold the Moonbirds IP to the gaming startup Orange Cap Games.

According to Foresight News, Yuga Labs has sold the Moonbirds intellectual property to gaming company Orange Cap Games, as reported by The Block. This is the second time this month that Yuga Labs has sold a top NFT IP, having previously sold the CryptoPunks IP to a nonprofit organization dedicated to digital art preservation. In February of this year, Yuga Labs also sold the Meebits IP. Amid a sustained downturn in the NFT market and a sharp decline in volume, Yuga Labs is shifting its focus to Bored Apes and its Otherside Metaverse project. Co-founder Greg Solano stated that the team will concentrate on ‘Apes, Otherside, and a special new project.’ Orange Cap Games previously launched a physical and digital card game based on Pudgy Penguins. This acquisition will cover the Moonbirds, Mythics, and Oddities series. In the future, Moonbirds’ on-chain content may be deployed on the Mainnet or ApeChain. Solano remarked, ‘Moonbirds need a team that is truly focused on birds, and Orange Cap Games is the most suitable successor.’