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Yuga Labs acquires Cryptopunks Brands and Meebits Brands. It gives commercial rights to NFT Holders

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

On Friday Yuga Labs (the firm behind Bored Ape Yacht Club’s (BAYC), non-fungible token (NFT), collection, announced that it had acquired intellectual property for the Cryptopunks brand and Meebits brand. Furthermore, after obtaining the IP from Larva Labs, Yuga has decided to give “full commercial rights to the NFT holders.”

Bored Ape Makers 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. These two collections are the Larva Labs’ Cryptopunks or Meebits collections.

From the Yuga Labs official 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. Similar to what we did with the MAYC and BAYC owners.

‘What’s good for punks is good for apes ‘

While BAYC is fifth in NFT projects by sales volume (ATSV), dappradar.com NFT stats show that Meebits has the highest ATSV record with $7. 54 billion in ATSV. With $2, Meebits’ sister-project Cryptopunks is below this collection. 65 billion in ATSV, in comparison to BAYC’s ATSV which is $1. 41 billion. Yuga’s Mutant Ape Yacht Club (MAYC) is the ninth-largest in terms of ATSV with $895. 53 million at the time of writing.

Yuga Labs Obtains Cryptopunks and Meebits Brands, Gives Commercial Rights to NFT Holders
There are 10,000 different Cryptopunk non-fungible tokens issued on the Ethereum blockchain. The collection was launched in June 2017 by Larva Labs, the NFT studio crafted by the Meebits and Cryptopunks co-creators John Watkinson and Matt Hall.

Yuga posted a Twitter thread Friday stating that they have “always admired” Cryptopunks as well as the founders of Larva Labs. The team said that they are proud to represent the brands they have built in the future Yuga is building. In a tweetstorm, Yuga stated that the BAYC ecosystem would “remain the core” of the firm.

” We believe that what is good for Punks, is also good for Apes and all of the space. The same goes for Apes. “We want to grow the pie and not fight for slices,” Yuga’s announcement concluded.

What do you think about Yuga Labs acquiring the Cryptopunks and Meebits brands? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, a journalist and financial tech expert living in Florida, is the News Lead at Bitcoin.com News. Redman has been an active member of the cryptocurrency community since 2011. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

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