PANews reported on February 15 that according to The Block, Yuga Labs announced the sale of the Meebits NFT series and its related intellectual property to Meebit Company. After the sale of Meebits, Yuga Labs plans to focus on the Bored Ape Yacht Club NFT brand and its Otherside metaverse project. Meebit Company or "MeebCo" plans to creatively expand the Meebits series through this acquisition, strengthen community engagement and launch new products, as well as conduct other brand expansion activities. Meebits launched Bits as a reward mechanism to encourage users to trade Meebits on MeebCo's partner OpenSea NFT market. Points holders can participate in the future development of the project, and the royalties generated by OpenSea transactions will be used in part for MeebCo's operations and the expansion of project content and functionality.