Yuga Labs announced that the company behind Bored Ape Yacht Club’s non-fungible token (NFT), collection, had purchased the intellectual property rights to the Cryptopunks (and Meebits) brands. Furthermore, after obtaining the IP from Larva Labs, Yuga has decided to give “full commercial rights to the NFT holders.”
Yuga Labs Acquires Cryptopunks And Meebits Collections For Bored Ape Creators
In the last year, and through 2022, NFTs have been a majorstay in crypto. Bored Ape Yacht Club is the team behind the 5th largest NFT collection in terms of sales volume. They announced that they had acquired IP related to 2 other NFT collections. The two collections happen to be the Larva Labs’ issued Cryptopunks and Meebits collections.
The team sent this tweet from the Yuga Labs official Twitter account:
Some big news to share today: Yuga has acquired the CryptoPunks and Meebits collections from Larva Labs, and the first thing we’re doing is giving full commercial rights to the NFT holders. Similar to what we did with MAYC and BAYC owners.
‘What’s Good for Punks Is Good for Apes’
BAYC may be the fifth largest NFT project in terms of all-time sales volume (ATSV), but dappradar.com’s NFT collection statistics indicate that Meebits has the current top ATSV record with $7.54 Billion. Meebits’ sister project Cryptopunks is below the collection with $2.65 billion in ATSV, in comparison to BAYC’s ATSV which is $1.41 billion. Yuga’s Mutant Ape Yacht Club (MAYC) is the ninth-largest in terms of ATSV with $895.53 million at the time of writing.
Yuga’s Twitter thread on Friday notes that the team has “always admired” Cryptopunks and the Larva Labs founders. “They’ve pushed NFTs and the broader crypto world forward, and we’re honored to carry the brands they’ve built into the future we’re building at Yuga,” the team added. Yuga’s tweetstorm further insists that the BAYC ecosystem “will remain the center” of the firm’s universe.
“We believe that what’s good for Punks is good for Apes and the rest of the space. Likewise, what’s good for Apes is good for Punks. We want to grow the pie, not fight over slices,” Yuga’s announcement concludes.
Do you have any thoughts about Yuga Labs purchasing the Cryptopunks/Meebits brands Please comment below to let us know your thoughts on this topic.
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