Sells

In brief

Gaming startup Orange Cap Games acquired the Moonbirds NFT IP from Yuga Labs.
Bored Ape Yacht Club creator Yuga Labs acquired Moonbirds and creator Proof in early 2024.
Yuga Labs also recently parted with the CryptoPunks and Meebits IP as it refocuses on Bored Ape projects.

Yuga Labs is serious about refocusing on the Bored Ape Yacht Club, the Otherside metaverse game, and related projects.

On Friday, the crypto startup said that it had sold off yet another previously acquired NFT project IP, dumping the Moonbirds property that it purchased just over a year ago.

The buyer is Orange Cap Games, a young gaming startup that builds digital and physical trading card games. The firm’s first game, the Pudgy Penguins-themed Vibes TCG, launched on Ethereum layer-2 network Abstract.

Moonbirds has been acquired by @ocapgames

Spencer and the team at Orange Cap Games are among the smartest, most detail-oriented builders in consumer crypto.

They put love, genuine craft, and a fair bit of neurotic perfectionism in everything they touch (ask @spencer to tell you… https://t.co/5ADNebM0wD

— Garga.eth (Greg Solano) (@CryptoGarga) May 30, 2025

“Spencer [Gordon-Sand, CEO] and the team at Orange Cap Games are among the smartest, most detail-oriented builders in consumer crypto,” Yuga Labs co-founder and CEO Greg “Garga” Solano wrote on X. “Moonbirds deserve a team whose whole world is the birds, and there’s no one better than Orange Cap Games to help them reach their potential.”

Orange Cap Games has yet to share concrete plans for the Moonbirds IP and associated Mythics and Oddities collections. However, in an X post, the studio said that any future on-chain assets tied to Moonbirds will either be minted on a layer-1 chain or on the Yuga-linked ApeChain, an Ethereum layer-2 network.

Additionally, Moonbirds characters will still come to Yuga’s long-in-the-works Otherside game.

Terms of the deal were not announced. Decrypt reached out to both Yuga Labs and Orange Cap Games seeking that information, but did not immediately receive a response.

Already this year, Yuga Labs has parted ways with the CryptoPunks and Meebits IP that it acquired from Larva Labs in 2022. The Meebits IP was sold in February to a new startup, The Meebit Company, while the nonprofit Infinite Node Foundation picked up the influential CryptoPunks IP earlier this month.

The original Moonbirds NFT collection was launched on Ethereum in April 2022, with immense demand generating $280 million worth of primary and secondary sales in the initial weekend.

Original creator Proof, led by Digg co-founder and venture capitalist Kevin Rose, raised some $60 million in funding after the mint to create a crypto ecosystem of content, assets, and events. However, as the NFT market collapsed into late 2022 and throughout 2023, the firm faced increasing pushback from collectors.

Yuga Labs ultimately acquired Proof and the Moonbirds IP in February 2024, with Rose becoming an advisor to the Bored Ape maker as part of the deal.

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Expert Gives Reasons Why He Sold Off Bitcoin Holdings

In an X post, Crypto Beast stated he has sold all his Bitcoins. He opined that BTC’s dominance has peaked and will drop massively in the coming months, suggesting that the top might be in for the flagship crypto following its latest rally to a new ATH. The expert added that the BTC price cannot record another 100% move from here, while most altcoins he holds will still witness a 5x to 20x surge.

Source: Crypto Beast on X

He also revealed that he plans to sell his altcoins at their peak and buy back Bitcoin during the bear market. In an X post, crypto analyst Rekt Capital also commented on BTC’s dominance. He noted that May is coming to a close and that the dominance is firmly positioned for a successful retest of 64% as support.

The analyst added that any short-term dips in the Bitcoin dominance would still enable altcoin moves. However, he warned that the BTC DOM still looks positioned for more upside towards the 71% area over time. In an earlier X post, he stated that Bitcoin has just begun its “Price Discovery Uptrend 2” and that it still has many weeks of upside ahead.

Rekt Capital noted that there will be normal dips and pullbacks for Bitcoin during this uptrend, but the general macro upside lies ahead. Veteran trader Peter Brandt also raised the possibility of the BTC price rallying to as high as $150,000 by August, indicating that the flagship crypto has more room to rally to the upside.

Altcoin Season Is On The Horizon

Crypto analyst Mikybull Crypto has made a case for altcoins, predicting that they would soon enjoy massive gains while Bitcoin’s dominance declines. In an X post, the analyst stated that altseason is brewing and that it is becoming clear on the chart. In another X post, he remarked that the Bitcoin dominance is looking to plunge and that it is time for altcoins to show.

Ethereum is known to usually lead this altcoin season, and Mikybull Crypto is confident that a parabolic rally is loading for the ETH price. In an X post, the crypto analyst stated that ETH is breaking out and that $3,200 is the next target for the altcoin.

At the time of writing, the Bitcoin price is trading at around $107,938, down in the last 24 hours, according to data from CoinMarketCap.

BTC trading at $108,408 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from Getty Images, chart from Tradingview.com

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Bored Ape Yacht Club Maker Sells Moonbirds IP to Gaming Startup

In brief

GG Newsletter

Crypto Expert Sells Off Bitcoin Holdings, Gives Reasons Why

Expert Gives Reasons Why He Sold Off Bitcoin Holdings

Altcoin Season Is On The Horizon