Yuga Labs Obtains Cryptopunks and Meebits Brands, Gives Commercial Rights to NFT Holders

Yuga Labs Obtains Cryptopunks and Meebits Brands, Gives Commercial Rights to NFT Holders

On Friday, Yuga Labs, the firm behind the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, announced the company acquired the intellectual property behind 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.” Bored Ape Creators Yuga Labs Acquires Cryptopunks and Meebits Collections From Larva Labs

Last year and during the course of 2022, non-fungible tokens (NFTs) have seemingly become a mainstay within the crypto industry. One of the teams behind the fifth-largest NFT collection, in terms of all-time sales volume, Bored Ape Yacht Club, announced the acquisition of the IP tied to two other popular NFT collections. The two collections happen to be the Larva Labs’ issued Cryptopunks and Meebits collections.

From the official Yuga Labs Twitter account the team tweeted: 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. Just like we did for BAYC and MAYC owners. ‘What’s Good for Punks Is Good for Apes’

While BAYC is the fifth-largest NFT project by all-time sales volume (ATSV), dappradar.com NFT collection stats indicate Meebits holds the top ATSV record today with $7.54 billion in ATSV. 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. There are 10,000 different Cryptopunk non-fungible tokens issued on the Ethereum blockchain. The collection was launched in June 2017 by Larva Labs, the NFT studio crafted by the Meebits and Cryptopunks co-creators John Watkinson and Matt Hall.

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. Tags in this story 2022, all-time sales volume, ATSV, BAYC, BAYC ecosystem, Blockchain, Bored Ape Yacht Club, Commercial Rights, cryptopunks, Intellectual Property, ip, Larva Labs, Meebits, nft, NFT collection, NFT Holders, NFTs, Yuga Labs

What do you think about Yuga Labs acquiring the Cryptopunks and Meebits brands? Let us know what you think about this subject in the comments section below. Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Bitcoin Exchange Reserves Drop to Lowest Point in 3 Years NEWS | 8 hours ago Western Union Suspends Operations in Russia, Belarus Over Ukraine War NEWS | 10 hours ago

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