Yuga Labs Sells Meebits IP, Will Focus on BAYC and Otherside

BlockBeats News, February 15th, according to The Block, Yuga Labs announced that it will sell the Meebits NFT series and its related IP to Meebit Company (MeebCo). After this sale, Yuga Labs will focus on the Bored Ape Yacht Club (BAYC) and Otherside metaverse projects.

Meebits introduced Bits as a reward mechanism to encourage users to trade Meebits on the MeebCo partner OpenSea NFT marketplace. Token holders can participate in the project's future development, and royalties generated from OpenSea trades will be partially used for MeebCo's operations and the expansion of project content and features.