Web3 Game Studio Orange CAP Games has announced a $ 35 million USD increase, which is expected to promote the growth of PUDGY PENGUINS VIBES TCG and recently purchased Moonbirds IP.
This moving signal led by Web3 Investment Form and Yuga Labs continues to support the MOONBIRDS brand of Yuga Labs Team Post-Sale and confirms the beliefs of co-founder Greg Solano.
This will be followed by participants, including the $ 2 million pre-seed Angel Round in September 2024, followed by the PUDGY PENGUINS parent company Igloo Inc.
Main insight
- Orange CAP Games has announced a $ 35 million impression led by 1kx and Yuga Labs.
- This fund is used to inspire life to IPs by developing “Vibes TCG and MOONBIRDS products and ecosystems.
- This follows the $ 2 million impression, including the participation of Igloo Inc., Gabby Dizon and OSF in September 2024.
- Yuga’s participation signals continuous support for Moonbirds despite the recent IP sales.
- For more information on the following steps of VIBES TCG and MOONBIRDS IP, you will be shared in a timely manner.
Source: Orange Cap GameWhat is the orange cap game?
Orange Cap Games is a New York -based style “Game and Experience Design Studio”.
They are relatively new arrivals in the web3 game scenes, but their teams boast decades of group experiences in designing and manufacturing table trading card games, bringing their expertise to the blockchain industry.
The team is a developer of VIBES, an official PUDGY PENGUINS trading card game, and has been a hybrid physics and digital experience stored in more than 100 retailers worldwide and has seen more than 4 million cards and 350,000 online games since its launch in December 2024.
Last week, Yuga Labs announced that it agreed to sell the Moonbirds IP acquired in February 2024 to Orange CAP Games with unveiled fees. It is not known whether Yuga’s participation in the $ 3.5 million increase in Orange Cap Games is part of a separate transaction or sale plan.
Source: Orange Cap GameWhat does this fund use?
Orange Cap Games said the fund said, “It will help you to bring life into the IP by raising the VIBES TCG & MOONBIRDS product and ecosystem.”
Considering that the announcement is released immediately after acquiring MOONBIRDS IP, more details have not been shared yet.
Peter Pan, a partner of 1kx, who led this $ 35 million, said: “We believe that the world’s largest IP has been rooted in encryption for the next 10 years, and that onChain Primitives will not see it before.
“We still think it’s still early in this design space, and I think there are few operators who can crack the code in this category. Orange CAP Games has its potential.”