Yuga Labs, the Web3 giant behind Bored Ape Yacht Club, has announced the acquisition of Los Angeles-based Roar Studios as part of its mission to expand its Otherside metaverse and create engaging social experiences for Web3 communities. Founded in 2021 by entertainment executive Eric Reid, Roar Studios is a fusion of music, gaming, and social media. In October 2021, the studio raised $7 million to construct a music metaverse that would enable artists from around the world to collaborate in the digital world.
Roar’s commitment to creative content creation and social connections will accelerate our execution of our ambitious vision for Otherside and Yuga’s ecosystem more broadly, said Daniel Alegre, CEO of Yuga Labs. Following the acquisition, Reid will join Yuga Labs as the General Manager of Otherside and will oversee its development.
Yuga Labs, which has acquired a number of non-fungible token (NFT) projects including CryptoPunks, Meebits, and 10KTF, has expressed its intention to craft Otherside as a place for all of its intellectual property to converge. While still in beta, the company has been steadily teasing updates to Otherside via massive live demos it calls Trips available to holders of its Otherdeed NFTs.
We are eager to offer a persistent, interoperable digital space for NFT holders as soon as possible, said Yuga Labs Chief Creative Officer Michael Figge. Last week, Yuga Labs invited 40 of its Ape holders to a live demo of its latest Otherside expansion, showcasing a huge island designed to act as a virtual clubhouse for the Bored Ape community.