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On Friday, Yuga Labs, the firm behind the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, announced the company acquired the intellectual property behind the Cryptopunks and Meebits brands. Furthermore, after obtaining the IP from Larva Labs, Yuga has decided to give âfull commercial rights to the NFT holders.â
Bored Ape Creators Yuga Labs Acquires Cryptopunks and Meebits Collections From Larva Labs
Last year and during the course of 2022, non-fungible tokens (NFTs) have seemingly become a mainstay within the crypto industry. One of the teams behind the fifth-largest NFT collection, in terms of all-time sales volume, Bored Ape Yacht Club, announced the acquisition of the IP tied to two other popular NFT collections. The two collections happen to be the Larva Labsâ issued Cryptopunks and Meebits collections.
From the official Yuga Labs Twitter account the team tweeted:
Some big news to share today: Yuga has acquired the CryptoPunks and Meebits collections from Larva Labs, and the first thing weâre doing is giving full commercial rights to the NFT holders. Just like we did for BAYC and MAYC owners.
âWhatâs Good for Punks Is Good for Apesâ
While BAYC is the fifth-largest NFT project by all-time sales volume (ATSV), dappradar.com NFT collection stats indicate Meebits holds the top ATSV record today with $7.54 billion in ATSV. Meebitsâ sister project Cryptopunks is below the collection with $2.65 billion in ATSV, in comparison to BAYCâs ATSV which is ââ$1.41 billion. Yugaâs Mutant Ape Yacht Club (MAYC) is the ninth-largest in terms of ATSV with $895.53 million at the time of writing.
Yugaâs Twitter thread on Friday notes that the team has âalways admiredâ Cryptopunks and the Larva Labs founders. âTheyâve pushed NFTs and the broader crypto world forward, and weâre honored to carry the brands theyâve built into the future weâre building at Yuga,â the team added. Yugaâs tweetstorm further insists that the BAYC ecosystem âwill remain the centerâ of the firmâs universe.
âWe believe that whatâs good for Punks is good for Apes and the rest of the space. Likewise, whatâs good for Apes is good for Punks. We want to grow the pie, not fight over slices,â Yugaâs announcement concludes.
What do you think about Yuga Labs acquiring the Cryptopunks and Meebits brands? Let us know what you think about this subject in the comments section below.
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