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CryptoPunks Enter New Era as Yuga Labs Sells Intellectual Property Rights
CryptoPunks Enter New Era as Yuga Labs Sells Intellectual Property Rights
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The iconic CryptoPunks NFT collection has transitioned to new ownership, marking a pivotal moment for the digital art project that ignited the 2021 NFT boom. Originally launched in 2017 by Larva Labs, the collection became a cultural phenomenon during the bull market, with celebrities and artists adopting the pixelated avatars as status symbols.
Yuga Labs, which acquired CryptoPunks in 2022, has now sold the intellectual property rights. The transaction closes a chapter for the collection that generated over $3 billion in sales and established creators Matt Hall and John Watkinson as leading figures in digital art. The MOVE raises questions about the future direction of one of crypto’s most recognizable brands.
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