Yuga Labs, a prominent web3 company renowned for its Bored Ape Yacht Club (BAYC), CryptoPunks, Meebits, 10KTF, and Otherside collections, announced its agreement to acquire Roar Studios, an innovative company at the forefront of gaming, social media, and the metaverse, with a strong foundation in technology and artificial intelligence.
Roar Studios has developed ROAR, a groundbreaking immersive media experience that enables artists and fans to interact, collaborate, and compete in real time from anywhere. Combining cutting-edge proprietary technology with established MMO game and platform systems, ROAR introduces a novel 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 and interoperable metaverse, the integration of Roar Studios will bring invaluable contributions in terms of innovative technology, specialized expertise, and leadership.
Daniel Alegre, CEO of Yuga Labs, expressed enthusiasm about the acquisition, stating, “Roar Studios has redefined the way media content is experienced in the metaverse. Yuga’s mission is to create novel ways for communities to connect and express themselves, and we are thrilled to welcome Roar’s talented team to our Yuga family. Roar’s commitment to creative content creation and social connections will significantly accelerate the realization of our bold vision for Otherside and Yuga’s ecosystem at large.”
Echoing this sentiment, Eric Reid, Founder and CEO of Roar Studios, remarked, “Our team’s mission is to empower players to create and connect in a community-driven, open media experience, aligning fundamentally with Yuga’s web3 metaverse strategy. We are excited about the opportunity to contribute to Yuga’s paradigm-shifting approach to content and immersive experiences.”
Upon completion of the acquisition, Eric Reid will join Yuga Labs as the General Manager of Otherside. He will lead the platform’s development and production, working alongside the experienced Yuga executive team. Prior to Roar, Reid boasts a distinguished career of over two decades, building teams and creating and distributing film, television, and music content worldwide, including well-known film franchises like UNDERWORLD.
Yuga Labs is a pioneering web3 company dedicated to shaping the future through storytelling, experiences, and community. With a vision rooted in imagination rather than limitations, Yuga Labs aims to reinvent the real-world utility of NFTs and drive progress within the space. Notable achievements include releasing IP licenses to NFT holders, acquiring and releasing rights to other top collections (CryptoPunks and Meebits), and achieving record-breaking synchronized player participation in their groundbreaking initiative, Otherside. As one of the most ambitious interactive metaverse projects to date, Otherside is community-built, challenging traditional walled gardens in gaming spaces. In March 2022, Yuga Labs successfully raised a $450M seed round at a $4B valuation.