In a strategic reshuffling of its NFT portfolio, Yuga Labs—creator of the iconic Bored Ape Yacht Club (BAYC)—has sold the intellectual property rights of the Moonbirds NFT collection to rising web3 gaming startup Orange Cap Games. Announced on May 30, the deal also includes the associated Mythics and Oddities collections.
This transaction marks a significant shift, occurring just over a year after Yuga Labs acquired Moonbirds through its purchase of PROOF, the original creator led by Digg co-founder Kevin Rose. Moonbirds initially launched in April 2022, generating over $280 million in combined primary and secondary sales during its debut weekend.
Yuga Labs Doubles Down on Core Projects
The divestment aligns with Yuga Labs’ broader strategy to concentrate efforts on its flagship initiatives—namely the Bored Ape Yacht Club, the Otherside metaverse, and related ecosystems. Earlier in 2025, Yuga also sold off the intellectual property of other major collections: CryptoPunks was handed over to the nonprofit Infinite Node Foundation, while Meebits found a new home under startup MeebCo.
“Moonbirds deserve a team whose whole world is the birds,” said Yuga Labs CEO Greg “Garga” Solano in a statement on X. “There’s no one better than Orange Cap Games to help them reach their potential. Spencer [Gordon-Sand] and his team are among the most detail-oriented builders in consumer crypto.”
Orange Cap Games Eyes Expansion
Orange Cap Games, known for developing both physical and digital trading card games, is set to incorporate Moonbirds into its growing gaming ecosystem. The studio’s debut title, Vibes TCG, is centered around Pudgy Penguins and operates on the Ethereum layer-2 network Abstract.
Although specific plans for Moonbirds have not been disclosed, Orange Cap hinted at future on-chain asset drops on either a layer-1 blockchain or ApeChain, Yuga’s own Ethereum layer-2 network. The characters are also expected to make appearances in Otherside, Yuga’s immersive metaverse project.
Refocusing Amid a Maturing NFT Market
Yuga’s decision to streamline its holdings comes as the NFT space undergoes a period of maturation. With market volatility and shifting consumer expectations, companies are increasingly focusing on fewer, high-potential brands. For Yuga, that means devoting more resources to projects with proven staying power.
For Moonbirds, the move could signal a new era. While the collection once commanded massive attention in early 2022, it later faced community criticism amid a cooling NFT market. The shift in ownership—twice in just over a year—suggests a fresh direction could be on the horizon.
Market Responds with Optimism
Initial reactions from the NFT community have been positive. Following the announcement, the Moonbirds floor price surged from 0.295 ETH to 0.9 ETH, reflecting renewed investor confidence under the stewardship of Orange Cap Games.
What Lies Ahead for Moonbirds?
Under the leadership of Orange Cap Games, Moonbirds could be reimagined beyond its origins as a profile picture (PFP) NFT. Potential applications include integration into trading card games, gamified NFT ecosystems, or metaverse characters—ventures that align well with Orange Cap’s expertise.
As the intersection of NFTs and gaming continues to expand, this acquisition may position Moonbirds as a key player in the evolving web3 entertainment landscape. Whether this will mark a full revival of the once high-flying collection remains to be seen—but for now, a new chapter has officially begun.
