Yuga Labs sparked controversy after speculation regarding the future of CryptoPunks' intellectual property rights surfaced, leaving CryptoPunk NFT holders in turmoil.
The speculation began Rumors have been circulating that Yuga Labs may sell the intellectual property rights to CryptoPunks. A variety of companies have been mentioned as possible buyers, including Hifo Labs, Kevin Rose, BlackRock, and MetaTrustGG. Yuga Labs' CEO has publicly denied these rumors and no sale has been confirmed.
CryptoPunks sale rumors – Is Yuga Labs establishing mysterious IP deals behind the scenes?
Yuga Labs, known as the founder of Bored Ape Yacht Club (BAYC), is at the forefront of the NFT space. The NFT powerhouse acquired the intellectual property rights to CryptoPunks from Larva Labs in March 2022.
The acquisition includes brands, artistic copyrights and other intellectual property rights. Yuga Labs also acquired ownership of 423 CryptoPunks and 1711 Meebits. Since the acquisition, Yuga Labs has granted the owners of CryptoPunks full commercial rights to their NFTs, similar to what was granted to the owners of Bored Ape Yacht Club (BAYC).
For now, CryptoPunks are still a very valuable NFT collection. Yuga Labs also introduced a new contract CryptoPunks721. This contract wraps NFTs to improve the efficiency and security of CryptoPunks transactions.
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CryptoPunks NFT collections demonstrate strength despite fluctuations by preserving their value. Featuring 10,000 unique 24×24 pixel art characters, Cryptopunks is often hailed as one of the best NFT projects in .cwp-coin-chart svg path { stroke: ; Stroke width: ; }
price
24 hour trading volume
Price movement in the past 7 days
According to the latest data, cryptopunk occupies a significant position in the NFT market. According to CoinGecko, CryptoPunks has a floor price of 40.38 ETH, a 24-hour trading volume of 1,040 ETH, and a total of 3,844 holders.
Before the rumors of selling Yuga Labs, CryptoPunks appeared in several dramas. The story of the CryptoPunk “V1” punks sparked controversy when the original version was traded on alternative platforms after the DMCA takedown deadline expired.
Yuga Labs introduced “Super Punk World” in 2024, but faced community backlash over perceived brand dilution. This led to the promise of storing CryptoPunks on the blockchain.
LL forced @opensea V1 Punks collection will be deleted due to DMCA deletion.
We expect to respond in due course through a counter-notice from our attorneys. We look forward to receiving the latest information.
In the meantime, https://t.co/KjPg88vDqE or Fluffy pic.twitter.com/1qmgdQrR7l
— CryptoPunks ᵛ¹ (@v1punks) February 7, 2022
High-profile sales, like the misunderstood trade for CryptoPunk #9998, added to the drama. Legal issues also emerged as Yuga Labs took a more protective stance towards CryptoPunks IP.
These events shaped CryptoPunks by highlighting the tension between maintaining the original vision and adapting to market changes.
Meanwhile, the potential sale of CryptoPunks news could have an impact on the NFT ecosystem. If Yuga Labs decides to transfer the intellectual property rights of these CryptoPunks, it could open new avenues for the development and use of CryptoPunks in various projects and increase their usefulness.
On the other hand, if a new owner does not treat the IP with the same consideration for community and creator rights, the stability of the project may be at risk.
In another report, some X accounts tweeted jokes about Huak Tuah Girl buying CryptoPunks. Adds drama and fun to CryptoPunks sale rumors.
braking
: Yuga is reportedly preparing to sell CryptoPunks to a very wealthy buyer who wishes to remain anonymous for now. But guess what? Our sources have already revealed the mystery buyer.
And finally…Hawk Tow Girl.
. @HalieyWelchX
— BRΞAK M@tr!x || Locus.btc (@locus_nft) January 14, 2025
Although there has been no official announcement confirming the sale of CryptoPunks, the discussion surrounding it continues to shape expectations. If the sale goes through, the new owners will inherit a collection that includes a rich legacy from Yuga Labs.
We have heard of several bids since September last year, but no acquisition has been finalized.
Just because there is a bid does not mean Yuga is selling the IP. The owner already owns the Punk IP as well.
Be careful if you trade it! https://t.co/uKhnzmp4Do
— Farokh (@farokh) January 14, 2025
At the moment, all information is based on rumors and market reactions, and there is no confirmation of the IP transfer. Yuga Labs has not formally confirmed any sale and the ownership status of CryptoPunks will not change until an official statement is issued.
Will CryptoPunks be sold? Nevertheless, CryptoPunks continues to be the benchmark in the NFT world.
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The post CryptoPunks Owners Shocked: Is Yuga Labs Selling Your Favorite NFTs? appeared first on 99Bitcoins.
