Yuga Labs, a prominent player in the web3 industry and the parent company of renowned entities like Bored Ape Yacht Club (BAYC), CryptoPunks, and Otherside, has recently announced its acquisition of Roar Studios. Roar Studios, known for its innovative approach to gaming, social media, and the metaverse, brings its extensive technological and AI capabilities to Yuga Labs’ portfolio.
One of Roar Studios’ notable achievements is the creation of ROAR, an immersive media experience aimed at connecting artists and fans. This platform enables real-time collaboration and competition from any location, revolutionizing the way creators and their audiences interact. Combining proprietary technology with established MMO game and platform systems, Roar Studios has pioneered a new product category: a semi-autonomous, experiential music and entertainment world driven by individual content creators and community consensus.
This unique technology and expertise are set to play a crucial role in Yuga Labs’ ongoing development of Otherside, an ambitious and interoperable metaverse project. With Roar Studios’ team onboard, Yuga Labs gains access to their innovative technological contributions, specialized knowledge, and leadership, enhancing the growth and success of Otherside.
Yuga Labs’ primary focus is transforming the practical applications of non-fungible tokens (NFTs) and driving progress in the industry. Since the launch of their groundbreaking Bored Ape Yacht Club collection in April, Yuga Labs has consistently been making waves and capturing attention in the web3 ecosystem. Daniel Alegre, CEO of Yuga Labs, expressed his admiration for Roar Studios, stating, “Roar Studios has redefined what it means to experience media content in the metaverse”. Alegre enthusiastically welcomes Roar Studios’ talented team, highlighting their dedication to creative content creation and social connections, which will accelerate the realization of Yuga Labs’ vision for Otherside and the broader Yuga ecosystem.
Roar Studios’ mission is to provide musicians with an enjoyable platform for practicing music while facilitating easier collaboration with fellow musicians. The platform enables users to record, perform, and share their music, bridging music, gaming, and social media to help musicians of all backgrounds, genres, and abilities achieve their collective goals.
In light of the acquisition, Eric Reid, Founder and CEO of Roar Studios, will assume the role of General Manager of Otherside at Yuga Labs. He will be responsible for refining the platform’s vision and leading its development and production, working alongside Yuga Labs’ experienced executive team. Reid brings over two decades of experience in building teams and creating and distributing film, television, and music content to global audiences, having worked on notable film franchises like UNDERWORLD. He expressed his excitement about the acquisition, stating that Roar Studios’ mission aligns perfectly with Yuga’s larger web3 metaverse strategy, and they eagerly seized the opportunity to contribute to Yuga’s paradigm-shifting approach to content and immersive experiences.
With the addition of Roar Studios, Yuga Labs further solidifies its position as a leading presence in the web3 and metaverse landscapes. This acquisition promises an exciting future for all players involved, as Yuga Labs continues to innovate and pave the way for the next generation of digital experiences.
