Yuga Labs acquires technology innovator Roar Studios
On July 31, Yuga Labs, the NFT media giant, announced the acquisition of Roar Studios, the developer of ROAR, an immersive media content marketplace where artists and their fans connect and collaborate in real time.
We are proud to announce Yuga Labs is acquiring Roar Studios, a music and metaverse startup led by long-time entertainment Executive, Eric Reid, to execute our expansive vision for @OthersideMeta.
For more, read here: https://t.co/Ll9OMrSwEP. pic.twitter.com/o2FankWun2
— Yuga Labs (@yugalabs) July 31, 2023
Although Roar Studios is a young startup (founded in 2021), it is very promising: it has already raised $7 million in a funding round. And founder Daniel Alegre has over 20 years of experience in film, TV and music content.
ROAR combines innovative patented technologies, artificial intelligence, MMO games, community consensus, the world of music and entertainment. Therefore, the experience gained by the Roar team will be fully and extensively applied as part of the development of the Otherside NFT metaverse.
Roar Studios has redefined what it means to experience media content in the metaverse. Yuga’s North Star is creating new ways for communities to connect and express themselves, and I am excited to welcome Roar’s talented team to our Yuga family. Roar’s dedication to creative content creation and social connections will accelerate our execution of our bold vision for Otherside and Yuga’s ecosystem more broadly. Said Daniel Alegre, CEO of Yuga Labs
As a result of the acquisition of Roar Studios, founder and CEO Eric Reid will take over as CEO of Otherside. In this position, he will develop the vision of the NFT project and lead the development together with professionals from the Yuga Labs team.
Our team’s mission is to empower players to create and be social in a community-driven, open media experience, so our work fundamentally aligns with Yuga’s larger web3 metaverse strategy. When Daniel and Mike Seavers opened the door for us to contribute to Yuga’s paradigm-shifting approach to content and immersive experiences, we jumped at the opportunity. Encouraged by Eric Reid
In this way, Yuga Labs, which is the parent company for BAYC, MAYC, 10KTF and other large-scale projects, continues to maintain the highest bar in the NFT market. Just a couple of days ago, the company announced the launch of a network license for Bored Ape Yacht Club holders, which caused a serious stir and attention in the market. And thanks to the merger with such a strong tech start-up, it once again confirms its status as a forward-thinking and professional NFT market leader.
