Yuga Labs Offloads CryptoPunks IP in $20M Fire Sale—NFT Giant Cashes Out While the Market Burns

Yuga Labs just unloaded the CryptoPunks intellectual property for a cool $20 million—proving even blue-chip NFTs aren’t immune to the great crypto garage sale of 2025.

The move comes as the NFT market limps toward maturity, with former ’digital art’ speculators now desperately rebranding their JPEGs as ’utility-driven assets.’

Fun fact: That $20M wouldn’t have covered a single Punk’s floor price during the 2021 mania. Ah, how the ’web3 revolution’ rewards its pioneers.

From NFT meme to museum: CryptoPunks on their way into the art canon

Created in 2017 by Larva Labs and later acquired by Yuga Labs, the CryptoPunks are considered pioneers of NFT culture. With total revenue of over 3 billion USD since their inception and a trading volume of 377 million USD in 2024 alone, the “Punks” remain one of the most recognized digital collections worldwide. Nevertheless, they have so far remained largely untouched by the established art world.

The Infinite Node Foundation aims to change that, according to the press release on the acquisition. In addition to the acquisition, the organization has allocated 25 million USD in foundation capital to promote exhibitions, research, and educational projects around the Punks. A permanent gallery in Palo Alto is in the works, along with partnerships with international museums. The original CryptoPunks creators, Matt Hall and John Watkinson, as well as Yuga co-founder Wylie Aronow, will remain involved in an advisory capacity.

New perspectives for NFT culture

The deal marks a pivotal shift in the perception of NFTs-from speculative assets to cultural heritage. NODE is focused on long-term impact and contextualization: the CryptoPunks are to be understood as the digital counterpart to classical avant-garde and made permanently accessible to the public. The project is backed by venture capitalists Meyer “Micky” Malka and Becky Kleiner. The foundation confirmed to CVJ.CH that the existing IP rights for using CryptoPunks remain unaffected. These rights allow NFT holders to commercialize their digital property by creating derivative works-without having to pay royalties.