NFT Business Yuga Labs Transfers Punks Intellectual Property to Infinite Node
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Yuga Labs, the brilliant minds behind the renowned Bored Ape Yacht Club and Mutant Ape Yacht Club NFT collections, have handed over the intellectual property (IP) for the iconic CryptoPunks NFT collection. The blockchain-based digital asset studio sold Punks IP to the Infinite Node Foundation (NODE), a nonprofit dedicated exclusively to digital art preservation. Whispers about the potential sale started circulating in January 2025. 🗣️
Yuga Labs Sells Punks to NODE 🤝
Yuga Labs formally announced the sale in a May 13 blog post. With the acquisition, NODE now holds control over the CryptoPunks NFT IP and an additional $25 million endowment, solidifying its position as the most prosperously funded non-profit digital art organization in the United States. 💸
The Infinite Node Foundation (@nodefnd) expressed their excitement over the acquisition: "We've added @cryptopunksnfts IP to our growing portfolio. Launched by Larva Labs in 2017, CryptoPunks are the catalyst for the digital art movement. Look forward to preserving this piece of internet history!" 🎨
Created by Larva Labs in 2017, the CryptoPunks NFT collection consists of 10,000 pixelated characters and is considered the foundation for the modern digital art movement. Its enormous success in the NFT market caparisoned nearly $1B. 🌐
Back in March 2022, Yuga Labs purchased the IP for CryptoPunks, as well as the Meebits collection, during an auction. Meebits is another NFT collection by Larva Labs featuring 20,000 3D characters on Ethereum.
Yuga Labs community includes highly appreciated NFT collections, including Mutant Ape Yacht Club, Otherside, Kodamara, Bored Ape Kennel Club, Twelvefold, Moonbird Oddities, Grails, and Emotes. 🎨
Punks IP Sale Detail 💭
Although the details of the sale remain undisclosed, NODE has assembled an advisory board to handle the CryptoPunks NFT collection. The board includes Matt Hall and John Watkinson, the artists behind the collection, a representative from Yuga Labs, and others. NODE aims to construct a networked infrastructure for digital art to create a rich ecosystem for CryptoPunks and similar projects within the digital and conventional art worlds. 🌐
The sale has had a positive impact on Punks' trading volume, with a 329% surge in sales within the past 24 hours ($3.9M) on CryptoSlam.io, a recognized source for crypto market data and NFT exploration. 💰
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- In the digital art world, the Infinite Node Foundation has expanded its portfolio with the acquisition of the CryptoPunks NFT collection IP, marking a significant move in the intersection between finance, business, and technology.
- With the sale of CryptoPunks to the Infinite Node Foundation, Yuga Labs firmly positions itself as a prominent player in the NFT market, demonstrating its finesse in strategic business decisions and technological innovation within the digital art industry.
