According to The Block, NFT brand Yuga Labs announced on February 14 the sale of the Meebits NFT series and its related intellectual property to the newly formed Meebit Company (MeebCo). MeebCo plans to expand the Meebits series of content, strengthen community engagement and launch new merchandise. Meebits has launched a trading rewards program, Bits, and royalties generated by the OpenSea platform will be divided between the MeebCo team and project development. Yuga Labs said it will focus on the development of the Bored Ape Yacht Club NFT brand and the Other Side Metaverse project, but Meebits will still maintain a significant presence in Other Side.