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 “full commercial rights to the NFT holders.”
Bored Ape Creators Yuga Labs Acquires Cryptopunks and Meebits Collections from Larva Labs
Over the past year and into 2022, non-fungible tokens (NFTs) have seemingly become a mainstay of the crypto industry. One of the teams behind the fifth largest NFT collection, by sales volume of all time, Bored Ape Yacht Club, has announced the acquisition of the intellectual property related to two other popular NFT collections. Both collections happen to be the Cryptopunks and Meebits collections published by Larva Labs.
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 we’re doing is giving full commercial rights to the NFT holders. Just like we did for BAYC and MAYC owners.
“What’s good for punks is good for monkeys”
While BAYC is the fifth largest NFT project by all-time sales volume (ATSV), NFT collection statistics from dappradar.com indicate that Meebits today holds the best ATSV record with 7.54 billion dollars to ATSV. Meebits sister project Cryptopunks is below the collection with $2.65 billion in ATSV, compared to BAYC’s ATSV which is $1.41 billion. Yuga’s Mutant Ape Yacht Club (MAYC) is ninth in terms of ATSV with $895.53 million at the time of writing.
Yuga’s Twitter thread on Friday notes that the team has “always admired” Cryptopunks and the Larva Labs founders. “They’ve pushed NFTs and the broader crypto world forward, and we’re honored to carry the brands they’ve built into the future we’re building at Yuga,” the team added. Yuga’s tweetstorm further insists that the BAYC ecosystem “will remain the center” of the firm’s universe.
“We believe what’s good for punks is good for apes and the rest of space. Likewise, what’s good for monkeys is good for punks. We want to make the cake bigger, not fight over slices,” Yuga’s announcement concludes.
