Yuga Labs Sells CryptoPunks IP to Infinite Node Foundation

CryptoPunks, the flagship non-fungible token (NFT) profile picture collection made by Larva Labs, is being sold yet again. This time ownership will be transferred to The Infinite Node Foundation , which announced the news in an X post today, May 13. Larva Labs, the company that created CryptoPunks in 2017, is set to serve on the foundation’s board. The collection was sold by its creator, Larva Labs, to Yuga Labs, the creator of another popular NFT collection, Bored Ape Yacht Club, in March 2022. Since then, many CryptoPunk holders have cried for a separation from Yuga, citing concerns such as execution risk, and voicing their desire for Punks to just be Punks. In January, rumors emerged that Yuga was gearing up to sell the collection’s IP to a group of investors. While nothing emerged from the deal, the rumor mill sent Punks up 10% above the 40 ETH mark. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant