Ethereum News: Yuga Labs Considers Selling CryptoPunks IP Rights

Yuga Labs, the creator of the popular Bored APE Yacht Club NFTs, is reportedly considering selling the intellectual property (IP) rights to the iconic CryptoPunks collection. This move comes after Yuga Labs acquired the rights to CryptoPunks and Meebits in 2022, maintaining CryptoPunks as an exclusive NFT collection. Despite the acquisition, the company has remained silent on the potential sale. CryptoPunks continues to be a leading NFT collection, with a current floor price of 41.47 ETH.

Yuga Labs May Sell CryptoPunks Intellectual Property Rights

Yuga Labs, the producer of Bored Apes, is rumored to be in the process of selling the intellectual property rights to the CryptoPunks collection. The company acquired these rights in 2022, along with the rights to Meebits, and has since maintained CryptoPunks as an exclusive NFT collection. Despite the acquisition, Yuga Labs has not commented on the potential sale. CryptoPunks remains a leading NFT collection with a floor price of 41.47 ETH. Yuga Labs has issued or acquired 26 NFT collections, ranging from exclusive top collections to more accessible ones with floor prices as low as 0.01 ETH.

Ethereum Whales Absorb $1 Million Loss As Market Caution Intensifies

The current market action of Ethereum has generated significant interest, especially among its large investors. A whale liquidated 10,070 ETH, resulting in an approximate loss of $1 million. The sell-off transpired as Ethereum’s price faltered in sustaining momentum, hovering around $3,280 during the transaction. The decision to sell a large amount of ETH is notable. This particular whale knows the market well; it took out 24,029 ETH from Binance a few weeks ago, which is worth about $81 million. Even with this new deal, the whale still has 13,959 ETH, which is worth about $45 million. The speed with which this sell-off has been carried out suggests that there may be underlying factors influencing their strategy.

Ethereum Price Power Play: Can It Smash Through Key Hurdles?

Ethereum price has initiated a minor recovery wave, surpassing the $3,120 zone and currently trading above $3,200. The cryptocurrency is facing resistance NEAR the $3,240 level, with a short-term contracting triangle forming on the hourly chart of ETH/USD. Despite clearing the 50% Fib retracement level of the recent downward move, Ethereum may struggle to continue its upward trajectory beyond the $3,240 resistance level.

Sony Launches Soneium, Its Own Blockchain Platform – Details

Sony has officially launched its blockchain platform, Soneium, marking a significant step towards decentralized technology. Developed by Sony Block Solutions Labs, Soneium is an Ethereum Layer 2 solution designed to bridge the gap between Web2 and Web3 ecosystems. The platform aims to address common blockchain issues such as high transaction costs and slow processing times. During its four-month testing phase, Soneium processed 47 million transactions and attracted over 14 million users, demonstrating its potential for widespread adoption. The mainnet is now live, signaling a new era for creators and blockchain enthusiasts.