Yuga Labs to Acquire Roar Studios to Expand the Otherside Metaverse
Through this acquisition, Yuga Labs will tap into Roar's expertise and technology to develop the Otherside metaverse.
Roar Studios x Yuga to shape the future of metaverse with AI
Yuga Labs, the company behind well-known NFT projects BAYC, CryptoPunks, Meebits, and Otherside, has announced plans to acquire Roar Studios, a metaverse firm that sits at the intersection of music, gaming, and entertainment.
Per the official statement, Roar Studios is the creator of ROAR, an immersive media experience where fans and artists connect, collaborate, and compete in real time. It combines innovative tech with established MMO game systems to produce an entirely new product category: an experiential, semi-autonomous music and entertainment realm powered by individual creators and community consensus.
As Yuga develops its ambitious metaverse, the Otherside, Roar will contribute its novel expertise to further expand the RPG.
"Roar Studios has redefined what it means to experience media content in the metaverse," said Daniel Alegre, CEO of Yuga Labs. "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 the execution of our bold vision for Otherside and Yuga's ecosystem more broadly."
Commenting on the acquisition, Eric Reid, Roar Studios' Founder and CEO, said: "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. He will be in charge of leading the development and production of the platform together with the Yuga team. Reid previously worked in law and entertainment, serving as the COO and then Co-CEO of Hollywood production company Lakeshore Entertainment, making films such as the "Underworld" franchise and "Million Dollar Baby."