Yuga Labs has sold the intellectual property rights for the Meebits NFT collection to Meebit Company, marking a strategic shift in the company’s focus. Yuga Labs, which acquired Meebits in 2022, will now prioritize its Bored Ape Yacht Club collection and the Otherside metaverse project. Meebit Company, or MeebCo, plans to expand the Meebits collection, enhance community engagement, and introduce new merchandise. Despite the change in ownership, Meebits will continue to feature prominently in Yuga Labs’ Otherside metaverse.
The sale follows Yuga Labs’ 2023 restructuring, which emphasized the development of Otherside, alongside strengthening existing brand partnerships. Meanwhile, MeebCo aims to build on Meebits’ reputation, launching initiatives like the Bits rewards program for NFT trading. This move aligns with Yuga Labs’ long-term strategy of refining its metaverse vision and strengthening its NFT portfolio.
