Yuga Labs sells Meebits intellectual property to focus on Bored Ape Yacht Club and Otherside

PANews reported on February 15 that, according to The Block, Yuga Labs announced the sale of the Meebits NFT series and its related intellectual property rights to Meebit Company. After the sale of Meebits, Yuga Labs plans to focus on the Bored Ape Yacht Club NFT brand and its Otherside metaverse project. Meebit Company or "MeebCo" plans to creatively expand the Meebits series through this acquisition, strengthen community engagement, and launch new merchandise, as well as carry out other brand expansion activities. Meebits introduced Bits as a reward mechanism to encourage users to trade Meebits on the MeebCo partner OpenSea NFT marketplace. Holders of the points can participate in the future development of the project, while the royalties generated from OpenSea transactions will be partially used for MeebCo's operations and the expansion of project content and functions.