Yuga Labs Offloads CryptoPunks IP to Infinite Node Foundation in Surprise Move

NFT giant Yuga Labs just unloaded the crown jewels—selling CryptoPunks’ intellectual property rights to the shadowy Infinite Node Foundation. Terms? Undisclosed, naturally.

The deal sends shockwaves through Web3: Yuga’s dumping the original blue-chip NFT project it acquired in 2022. Was this a strategic pivot or a quiet admission that even JPEG lords need exit liquidity?

One thing’s certain—the crypto elite will keep trading these pixelated relics like they’re Renaissance paintings. Meanwhile, actual Renaissance paintings aren’t subject to rug pulls.

Museum-partnership program

It will launch a new museum-partnership program and debut a curated show featuring all 10,000 Punks at its upcoming permanent exhibition space in Palo Alto, California. 

The space will also include a live ethereum (ETH) node to emphasize the on-chain nature of the works.

“With this acquisition, we’re building an architecture that allows CryptoPunks to be understood and studied as part of both art history and internet culture,” said NODE chair Micky Malka.

NODE’s advisory board includes key figures such as Matt Hall and John Watkinson (the creators of CryptoPunks), Yuga Labs co-founder Wylie Aronow, and Art Blocks founder Erick Calderon. 

The foundation is the first nonprofit to fully acquire the IP of a major internet-native artwork.

Yuga Labs acquired CryptoPunks from Larva Labs in 2022 but had signaled from the start that its goal was long-term preservation, not commercialization.

“We always knew Punks needed a permanent home built for preservation,” said Aronow.

Despite generating over $377 million in secondary sales in 2024 alone, CryptoPunks have remained largely outside the traditional art world.