August 2, 2023

Yuga Labs Acquires Metaverse Startup Roar Studios

Yuga Labs and Roar Studios

Yuga Labs and Roar Studios

Yuga Labs, the Web3 leader and creators of Bored Ape Yacht Club, CryptoPunks, and 10KTF, announced it has acquired Roar Studios, a music and metaverse startup.

Developed by Roar Studios, ROAR is an immersive media experience that allows artists and fans to connect, collaborate, and compete in real time from anywhere. The platform is a great way for artists and fans to come together in a unique and exciting way.

It is known that Yuga Labs develops Otherside, which is a Bored Ape-themed metaverse. And the Roar team will bring their innovative technology, specialized expertise, and leadership to contribute.

In this regard, CEO of Yuga Labs Daniel Alegre expressed his happiness and welcome to the Roar’s innovative team to the Yuga Labs team, saying: “Roar Studios has redefined what it means to experience media content in the metaverse. Roar’s dedication to creative content creation and social connections will accelerate the execution of our bold vision for Otherside and Yuga’s ecosystem more broadly.”

Meantime, Roar Studios’ Founder and CEO Eric Reid said his company’s work aligns with Yuga Labs’ web3 metaverse strategy.

Following the acquisition, Reid will be the general manager of Otherside. He will take on the responsibility of developing and producing the platform, while also working with the experienced Yuga executive team to enhance their vision and direction.

It is worth mentioning that in April, Yuga Labs announced the dropping of a collection of NFTs upon its multi-year partnership with Gucci, the Italian luxury fashion house. The new Gucci collection will blur the boundaries between the physical and digital.

In 2021, Roar Studios secured $7 million in funding to create Music Metaverse – a new platform focused on the intersection of music, gaming, and social media. This innovative platform aims to facilitate collaboration among musicians of every genre and demographic, regardless of their location.

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