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Yuga Labs Beefs Up ‘Otherside’ With Negate Studios Acquisition

Yuga Labs Beefs Up ‘Otherside’ With Negate Studios Acquisition

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17 hours within the pastTue Aug 01 2023 10:32:50

Yuga-Labs-Beefs-Up-‘Otherside’-With-Negate-Studios-Acquisition

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  • Bored Ape creator Yuga Labs has announced plans to create Negate Studios to fortify its metaverse game Otherside
  • A couple of of the deliberate enhancements comprise offering gamers interactive social experiences
  • Negate Studios founder Eric Reid will join Yuga Labs as the game’s standard manager

Bored Ape creator Yuga Labs has announced plans to create Negate Studios to fortify its metaverse game Otherside, whose demo wowed fans closing 12 months. A couple of of the deliberate enhancements comprise offering gamers interactive social experiences. The acquisition will seek Negate Studios founder Eric Reid join Yuga Labs as the game’s standard manager.

Negate’s innovative Abilities Involves AI

Essentially based mostly totally on Reid, Yuga’s metaverse ambitions align with Negate’s since its main mission entails gaming and social media. In an announcement, Yuga Labs stated that Negate Studios will bring on board its “innovative technology” which aspects man made intelligence (AI).

We are proud to mumble Yuga Labs is acquiring Negate Studios, a song and metaverse startup led by prolonged-time leisure Government, Eric Reid, to quit our sizable imaginative and prescient for @OthersideMeta.

For added, read here: https://t.co/Ll9OMrSwEP. pic.twitter.com/o2FankWun2

— Yuga Labs (@yugalabs) July 31, 2023

Yuga Labs CEO Daniel Alegre commented on the come noting that the acquisition will reduction supercharge the execution of the metaverse game and also earnings the wider Yuga ecosystem. Yuga didn’t on the other hand uncover the cost of the acquisition or give an intensive overview of the diagram in which it’ll leverage some of Negate’s tech in its metaverse game.

Negate’s acquisition adds to Yuga’s list of acquisitions meant to magnify the Yuga ecosystem. In November closing 12 months, for example, Yuga bought Beeple’s NFT startup Wenew, a pass that Yuga’s co-founder Greg Solano described as a technique to open unending collaborations.

From Web3 Companies to IP Rights

Except for acquiring web3 corporations, the Bored Ape creator has also purchased intellectual property rights (IP) rights of standard NFT initiatives esteem Meebits and CryptoPunks enabling it to control 35% of the NFT market part.

Its success has on the other hand viewed the firm being accused of shilling Bored Ape whereas others cling sought to rip off Bored Apes below the guise of artistic criticism.

With Yuga’s latest victory with the Dookey Dart NFT game, the acquisition of Negate Studios is probably going to enhance the adoption of Otherside and other Yuga web3 initiatives. 

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