After acquiring some of the biggest names of the NFT world, Yuga Labs now loads cryptop runs, Moonbirds and other brands if the market stands for continuous challenges.
Yuga Labs recently started slimming, which means that IP rights are transferred to various NFT collections-including cryptopunks and Moonbirds-in which can indicate a shift for the once dominant NFT giant. The Cryptopunks IP now belongs to the Infinite Node Foundation, a non-profit focused on digital art retention.
In the meantime, Moonbirds and other Blue-Chip collection has landed in hands from a relatively unknown gaming company called Orange Cap Games.
Although Natalie Stone, general manager of Cryptopunks, said that the conditions of the deal will not be announced, reports suggest that the Infinite Node Foundation may have paid around $ 20 million. That is probably less than what Yuga paid in 2022, and far away from the hype-driven prices that are seen at the peak of the NFT tree.
Yet Yuga is not completely running away, because the company still retains its rights under the standard IP license, Stone told The Verge.
Nicki Schiller, Staff Chef from Yuga Labs, emphasized in a commentary for crypto.news that “with punks remain the biggest holder and the node choosing their ability to limit the inheritance – we remain involved through the advisory board.”
“Moonbirds deserve a team that is fully devoted to their world, and Orange Cap Games is the right fit to help them move forward. With punks we remain the biggest holder and we chose their ability to discuss the inheritance-We will remain involved through the advisory board. These movements reflect a clear focus: yuga goes all-in.”
Nicki Schiller
Cultural movement
Yet the sale marks a big shift. When Yuga Labs acquired cryptopunks from Larve Laboratories in 2022, the NFT market was still glowing. Prices were towering and one cryptopunk sold famous for more than $ 23 million in Ethereum (ETH), and things like that don’t really happen anymore.
Although the exact reason behind the acquisition remains unclear, Node Foundation Chairman Micky Malka noted that cryptopunks ‘have fueled a cultural movement’, and added that the company sets up a permanent exhibition space in Palo Alto and plan to make the full 10,000-resistant collection, to show the collection, to collect the collection, to collect collection, Curators and collators, and collators to engage it. ‘
So what happened? Cryptopunks were made by Matt Hall and John Watkinson from Larven Labs in 2017. Only 24 × 24 pixels quickly became the 10,000 characters more than just JPEGs. They were status symbols, collector’s pait and some say the beginning of the NFT movement. Long before the bored monkeys took over profile photos, the punks were already auctioned by Christie’s, an art and luxury auction house.
Yuga came in during peak hype and acquires several NFT collections. But now it loads the same assets – and not just cryptopunks. Earlier in May, Yuga also sold the Moonbirds IP to Orange Cap Games, a low-profile outfit in the NFT gaming space. The deal not only includes Moonbirds, but also related spider -offs mythics and oddities.
https://t.co/dwnvvzktuz
– Orange Cap Games (@ocapgames) 30 May 2025
Orange Cap Games described the acquisition in an X -post as an opportunity to bring “beloved IPs to life by carefully manufactured experiences that introduce them to new fans and to deepen the connection with existing communities.” The company emphasized its excitement about taking the Moonbirds franchise and stated that Moonbirds “just nest during the Bear Market, filled with untouched possibility, and among our stewardship it is now time to flee.”
Orange Cap Games has a track record in NFT -Gaming, after he has launched Vibes TCG, a collectible card game centered around the Pudgy Penguins IP, which celebrates “culture, community and joy.” The studio is proud of attention to detail and says that “those who know us through Vibes know that we are obsessed with excellence, either in game design, physical product development or creative execution.”
“In fact, we are the only TCG studio that we know who has developed its own custom paper stock for our upcoming physical release. Details are important. This is the attitude we take with regard to everything we do.”
Oranje Cap -Spellen
Co-founder of Yuga Labs, Greg Solano, seemed optimistic. “Moonbirds deserve a team whose whole world is the birds,” he said, who so far praised the performance of Orange Cap Games.
Regarding the blockchain environment, Orange Cap games pointed out that the future components on Moonbirds that have been created by them will be on a mainnet or, if on a low-2, will use an exclusive Apechain, a network that was also supported by Yuga Labs.
Once hyphenated time
Yet it is difficult to ignore the background: NFTs are not what they used to be. Market activity is deposited from a cliff. According to Dapradar data, trade volumes for TOP NFT collections have fallen by 95% compared to their peaks. Once hyped projects have disappeared or turned into license colors, art exhibitions or physical merchan, all in the name of staying alive.
Art NFTS Annual Trade Volume and Sales Count Source: D -appadar
Schiller pushed back on the idea that the declining market conditions had caused the sale, and emphasized that the deals “were not driven by market volatility”, but instead “strategic clarity, did not reflect in the short -term conditions”.
Yuga Labs seems to double what it sees as a core, where Solano says in an X-post that the company is “laser-oriented on monkeys, others and something special that we have cooked.”
The other time of the Metavern company – a game, compelling world bound by bored monkeys – remains an important focus. And maybe that’s the real story. Whike Yuga does not necessarily give up, it certainly withdraws from the idea that one company can possess the NFT canon.
When Yuga acquired the IP from Cryptopunks: “It was not just about the honor of a cultural icon in which we believed,” said co-founder of Yuga Labs, Wylie Aronow, and added that giving the brand was “a full-circle moment”.
In the meantime, the Infinite Node Foundation seems to bring together a pretty serious team to limit the collection. Founders of both Larven Laboratories and artificial blocks are on the advisory board, and a live Ethereum button will be in its new facility to emphasize decentralization.
Looking ahead, Schiller confirmed that the “persistent other experience starts this summer and marks a large new phase in the project”, and he teased upcoming developments around Apfest and the long -awaited real clubhouse. “We will share this more soon,” she added.
While some in the NFT community regard this as a big win, others see it differently, which compares the sale of a high-profile collection with a small gaming startup as the web3 version of a garage sale. But maybe that’s just the new reality, the NFT market is not dead. It’s just quieter, more mature and, possibly, a little wiser.
Read more: US sec ends in the probe in bored monkeys nfts maker yuga labs