Shantel
Key Takeaways
- Yuga Labs, the powerhouse behind web3 and Bored Ape Yacht Club, agrees to acquire Roar Studios.
- Roar Studios, the developer of an immersive media experience, will bring innovative technology and expertise to Yuga Labs’ Otherside project.
- Eric Reid, founder and CEO of Roar Studios, will join Yuga as General Manager of Otherside.
About Yuga Labs
Yuga Labs is a pioneering web3 company renowned for pushing the boundaries of storytelling, experiences, and community. Established in April 2021 with the launch of their flagship collection, the Bored Ape Yacht Club, Yuga Labs has continued to challenge the traditional norms of web3 space. Their ambitious initiatives, such as Otherside, aim to reimagine the utility of NFTs, and to encourage a new era of community-led, immersive, interactive metaverse experiences.
The Acquisition: Yuga Labs Roars Louder
In a significant move to bolster its metaverse vision, Yuga Labs announced it is set to acquire Roar Studios, a firm at the forefront of gaming, social media, and the metaverse. Roar Studios is the mastermind behind ROAR, a unique immersive media experience that allows artists and fans to connect, collaborate, and compete in real time.
Developed by Roar’s dynamic team of audio, game, and AI engineers, ROAR harnesses groundbreaking proprietary technology with established MMO game and platform systems. The result is a revolutionary product category: an experiential, semi-autonomous music, and entertainment world driven by individual content creators and community consensus.
As Yuga Labs continues to develop Otherside, its ambitious, interoperable metaverse, the Roar team will inject their innovative technology, specialized expertise, and leadership into the project.
Daniel Alegre, CEO of Yuga Labs, lauded Roar Studios, saying, “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.”
Eric Reid: A Roaring Addition to the Yuga Team
Eric Reid, Founder, and CEO of Roar Studios, expressed his enthusiasm for the acquisition, stating, “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.”
Following the acquisition, Reid will join Yuga as the General Manager of Otherside. With over two decades of experience in creating and distributing film, television, and music content for audiences worldwide (including film franchises such as UNDERWORLD), Reid brings an array of skills to Yuga Labs. His role will be crucial in leading the development and production of the platform, further supported by Yuga’s highly experienced executive team.
Looking Ahead
This acquisition is a substantial leap forward for Yuga Labs in realizing its metaverse vision. With the innovative technology and talent from Roar Studios, Yuga is even better positioned to pioneer the web3 space. The metaverse landscape is rapidly evolving, and Yuga Labs, backed by Roar Studios’ talent and technology, appears set to roar even louder in this exciting domain.
