Yuga Labs, the Web3 giant responsible for Bored Ape Yacht Club, has revealed its decision to acquire Roar Studios. This acquisition forms part of Yuga Labs' expansion strategy for its Otherside metaverse, aiming to create engaging social experiences within Web3 communities.
Founded in 2021 by entertainment executive Eric Reid, Roar Studios intersects music, gaming, and social media. The Los Angeles-based studio raised $7 million in October 2021 to develop a "music metaverse," facilitating digital, creative collaborations between artists worldwide.
The Roar team will leverage its innovative technology, unique expertise, and leadership to help Yuga Labs accelerate its ambitious growth plans for Otherside. Daniel Alegre, CEO of Yuga Labs, expressed that Roar's commitment to creative content and social connections would speed up the realization of their bold vision for Otherside and the broader Yuga ecosystem.
Post-acquisition, Reid will join Yuga Labs as Otherside's General Manager, overseeing its progress. Yuga Labs, with a history of acquiring numerous NFT projects like CryptoPunks, Meebits, and 10KTF, envisions Otherside as a convergence point for all its intellectual properties. The company has been hinting at Otherside updates via large live demos, dubbed "Trips," for its Otherdeed NFT holders.
Recently, Yuga Labs hosted a live demo of its latest Otherside expansion for 40 Ape holders, revealing a massive virtual island acting as a clubhouse for the Bored Ape community. The team aims to provide a consistent, interoperable digital space for NFT holders as soon as possible, although no official public release date has been announced yet.
