According to Blockworks, Yuga Labs recently acquired PROOF, an NFT store famous for its Moonbirds avatar series. A few days later, Yuga Labs made its second CEO change in less than a year, appointing co-founder Greg Solano as the new CEO. On the same day, Yuga Labs released a progress update on its Otherside metaverse platform. Some people expressed dissatisfaction with the "poor communication" strategy in the Otherside announcement, and the new CEO Solano responded that "we will do better." Yuga Labs developed the Bored Apes Yacht Club NFT series, which attracted much attention during the 2021 NFT hype frenzy, and acquired the top series of CryptoPunks in the same category in 2022. However, the company has recently faced challenges in maintaining its leading position, and the price bottom line of competitor Pudgy Penguins has approached Bored Apes.