Yuga Labs announced its acquisition of music metaverse platform Roar Studios for an undisclosed amount.

Roar Studios is the creator of ROAR, a platform that offers an immersive media experience where artists and fans can interact, collaborate, and compete in real time. The platform seeks to foster an ecosystem for individual content creators to produce, listen to, and learn music. 

The acquisition is part of Yuga Labs' strategy to develop Otherside, its interoperable metaverse. The Roar team will contribute their technology, specialized expertise, and leadership to this endeavor. Post-acquisition, Roar Studios Founder and CEO Eric Reid will join Yuga as the general manager of Otherside, tasked with evolving the vision and leading the development and production of the platform.

Analyst QuickTake: Following the launch of Otherside, a social metaverse developed in collaboration with Improbable and Animoca Brands in August 2022 , Yuga Labs further expanded its platform with the introduction of the "Second Trip" experience in March 2023 . The acquisition of Roar Studios fits the company’s strategy and will contribute to the development of future music-themed experiences for the Otherside platform.