The post Yuga Labs Sells Meebits IP to Prioritize BAYC and Otherside appeared on BitcoinEthereumNews.com.

Yuga Labs sells Meebits IP to MeebCo, focusing on BAYC and Otherside development. MeebCo plans to expand Meebits with community engagement, new products, and a trading reward program called Bits. Yuga Labs, the firm behind the popular NFT collection Bored Ape Yacht Club (BAYC), has made an unexpected move by selling the intellectual property (IP) rights to the Meebits NFT collection to a new company called Meebit Company (MeebCo). 1/ The @MeebitCompany, a @1confirmation-backed venture, is excited to announce its acquisition of the Meebits from @yugalabs and the launch of a new chapter for Larva Labs’ third and most ambitious NFT project. We look forward to preserving the rich history of this collection… pic.twitter.com/0HLYyEJ9ZR — Meebits (@MeebitsNFTs) February 14, 2025 Yuga Labs’ New Focus: BAYC and Otherside Selling Meebits is part of Yuga Labs’ approach to concentrate on their metaverse project, Otherside, and BAYC development. Yuga Labs intends to be more successful in developing the ecosystem they have created by passing the Meebits IP rights to MeebCo, so avoiding the need to split their attention with other collections. Meebit Company now bears great responsibility for bringing Meebits back in appeal. Apart from raising community involvement, the company intends to launch new Meebit-related products. Launching a trading rewards program called Bits marks one of their first actions. Royalties made from trade on OpenSea will be distributed between the MeebCo team and the project development via this initiative. “We think Meebits has great potential to expand much more,” a MeebCo official remarked. They also mentioned that their future development plans heavily rely on the community. How Azuki and Milady Defied the NFT Market Slump Selling the Meebits IP falls within the difficult dynamics of the NFT market. However, the Azuki and Milady NFT collections saw the strongest market success, according to CNF…

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Filed under: News - @ February 15, 2025 11:25 am