Yuga Labs Obtains Cryptopunks and Meebits Brands – Gives Commercial Rights to NFT Holders

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Yuga Labs Obtains Cryptopunks and Meebits Brands – Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, revealed on Friday that it has acquired the Cryptopunks and Meebits brands’ intellectual property. Yuga has also opted to provide “complete commercial rights to the NFT holders” after receiving the IP from Larva Labs.

Non-fungible tokens (NFTs) have appeared to become a cornerstone within the crypto market during the last year and into 2022. Bored Ape Yacht Club, one of the teams behind the fifth-largest NFT collection by all-time sales volume, has announced the acquisition of the IP for two more popular NFT collections. The two collections are the Cryptopunks and Meebits collections from Larva Labs.

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The team tweeted from the official Yuga Labs Twitter account:

“Some big news to share today: Yuga has acquired the CryptoPunks and Meebits collections from Larva Labs, and the first thing we’re doing is providing the NFT holders full commercial rights. We accomplished the same thing for BAYC and MAYC owners.”

While BAYC is the fifth-largest NFT project by all-time sales volume (ATSV), Meebits now holds the top ATSV record with $7.54 billion in ATSV, according to dappradar.com NFT collection stats. In comparison to BAYC’s ATSV of $1.41 billion, Meebits’ sister project Cryptopunks has a lower accumulation of $2.65 billion in ATSV. At the time of writing, Yuga’s Mutant Ape Yacht Club (MAYC) was the ninth-largest in terms of ATSV, at $895.53 million.

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On Friday, Yuga wrote on Twitter that the team has “always appreciated” Cryptopunks and the founders of Larva Labs. “They’ve pushed NFTs and the greater crypto industry ahead,” the team said, “and we’re thrilled to carry the brands they’ve developed into the future we’re building at Yuga.” The BAYC environment “shall remain the focus” of the firm’s world, according to Yuga’s tweetstorm.

“What’s good for Punks, we feel, is good for Apes and the rest of the space.” What’s healthy for apes is also excellent for punks. “We want to grow the pie, not fight over slices,” Yuga finishes in his announcement.

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