Yuga Labs made an announcement on July 31st regarding its acquisition of the metaverse startup Roar Studios. This strategic move is aimed at accelerating the progress of their Otherside metaverse project and creating fresh opportunities for communities to interact and showcase their creativity.
Roar, the innovative brainchild and primary offering of Roar Studios, presents an immersive media platform that fosters seamless interaction between artists and fans, enabling them to connect, collaborate, and compete in real-time, regardless of their location. Central to this captivating experience is the development of what the company refers to as “a completely novel product category” – a dynamic, semi-autonomous music and entertainment universe powered by individual content creators and community agreement.
Roar Studios merges cutting-edge proprietary technology with well-established MMO game and platform systems, leveraging their team of skilled audio, game, and AI engineers to craft distinctive user experiences.
Yuga Labs, the parent company of Bored Ape Yacht Club (BAYC), CryptoPunks, Meebits, 10KTF, and various other projects, has been continuously pushing the boundaries of innovation since BAYC’s launch in April 2021. As pioneers in granting intellectual property (IP) licenses to NFT holders, Yuga has been diligently working on shaping its long-term vision for Otherside.
Yuga Labs’ CEO, Daniel Alegre, has shown great excitement regarding the recent acquisition of Roar Studios. This acquisition presents an opportunity to fast-track their ambitious vision for the entire Yuga ecosystem.
In a press release, Alegre stated “Roar Studios has redefined what it means to experience media content in the metaverse”. “[Its] 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, Founder and CEO of Roar Studios, echoed the same sentiment, emphasizing the strong alignment between the missions of both companies. “Our team’s mission is to empower players to create and be social in a community-driven, open media experience,” Reid said.
Prior to joining Roar Studios, Reid has dedicated over twenty years to assembling and managing teams while producing and distributing film, television, and music content, which includes successful global film franchises like Underworld. Roar Studios, founded in early 2021, reportedly secured $7 million in a funding round, with Galaxy Interactive, Todd Wagner, Scott Barger, and other notable investors leading the investment, as reported by Digital Music News. As of October 2021, its advisory board boasted prominent figures like Dylan Jadeja from Riot Games, Thomas Vu from League of Legends, Sid Fohrman from Sheppard Mullin, Sky Hansen from Wagner Investment Group, and professors Chris Chage from Stanford and Greg Niemeyer from Berkeley.