Crypto tech startup Yuga Labs, renowned for the Bored Ape Yacht Club NFT series, has revealed its plan to acquire Roar Studios, a prominent gaming and music firm.
Roar Studios' Founder and CEO, Eric Reid, will assume the role of general manager for Otherside, Yuga Labs' upcoming blockchain-powered metaverse game.
According to Reid, the acquisition is a perfect match, as both teams share a common mission of empowering players to engage in a community-driven, open-media experience within the larger Web3 metaverse strategy of Yuga Labs.
Previously involved in law and entertainment, Reid has an impressive background as the former COO and Co-CEO of Lakeshore Entertainment, a well-known Hollywood production company responsible for movies like the "Underworld" franchise and "Million Dollar Baby."
Roar Studios had raised $7 million in 2021, with support from firms like Galaxy Interactive, to develop a "music metaverse," granting virtual avatars the unique ability to play music through their characters.
However, Roar's expertise extends beyond music, as the company strategically leverages AI in its tech.
Yuga Labs acknowledged Roar's deep roots in technology and AI, emphasising that AI plays a vital role in Roar's proprietary tech.
However, specific details about how Otherside will utilise Roar's AI tech remain undisclosed for now.
With the acquisition of Roar Studios, Yuga Labs will have additional talent on board to shape and enhance the development of its ambitious Otherside metaverse game