The ever-evolving domain of Web3 and metaverse has witnessed a significant move as Yuga Labs, the powerhouse nurturing the phenomenon of Bored Ape Yacht Club, sets its sight to acquire Roar Studios of Los Angeles. The aim? To spread the wings of its Otherside metaverse, thereby enhancing and enriching the social experiences of its Web3 communities.
Roar Studios, founded by entertainer and executive Eric Reid in 2021, stands at the crossroads of music, gaming, and social media. With a $7 million funding raised to construct a ‘music metaverse’ in October 2021, it aimed to create a platform for artists around the world to join hands in a collaborative digital realm. Under this new development, Roar is ready to merge its state-of-the-art technology, skillset, and leadership into Yuga Labs’ agenda to leapfrog the ambitious dream for Otherside.
According to Yuga Labs’ CEO, Daniel Alegre, “Roar’s focus on nurturing creativity and social interaction aligns with and enhances our bold vision for [Otherside] and Yuga’s overall ecosystem.” After the completion of the acquisition, Reid will become the leader responsible for realizing Otherside’s development as Yuga Labs’ General Manager.
Known for acquiring high-profile non-fungible token (NFT) projects like CryptoPunks, Meebits, and 10KTF, Yuga Labs plans to shape Otherside into a convergence point for all its intellectual properties. The vision for Otherside, still in beta, is being gradually unveiled through grand live demonstrations known as “Trips” exclusively available to its Otherdeed NFT holders.
Last week, we saw an example of this with Yuga Labs’ demonstration for 40 Ape holders, unveiling a vast island intended to serve as a clubhouse in the virtual world for the Bored Ape community. Yuga’s Chief Creative Officer, Michael Figge, conveyed the team’s earnestness to provide a perpetual, interoperable digital hangout to NFT holders “as soon as possible.” However, the official roll-out date is yet to be decided.
Despite the excitement, one might wonder about the complexities surrounding tech implementation, data privacy, and potential copyright issues that could potentially impede the exciting journey of the metaverse. With Roar Studios joining forces with Yuga Labs, it remains to be seen how these titans will navigate the challenges of the metaverse, which is still in its infancy.
Source: Coindesk
