Yuga Labs Acquired CryptoPunks and Meebits Brands

Larva Labs founders sold the copyrights to the creators of Bored Ape Yacht Club for their biggest projects. 

Yuga Labs, the studio responsible for the Bored Ape Yacht Club (BAYC) NFT collection, acquired the copyrights to the CryptoPunks and Meebits NFT collections from Larva Labs. In addition, Yuga Labs bought 423 tokens from the CryptoPunks collection and 1.711 from the Meebits collection. The financial details of the deal remain unknown. 

According to a tweet by Yuga Labs, the company’s representatives intend to transfer exclusive licensing rights to their tokens to the NFT owners. It will allow not only to own digital images but also to use them in commercial and other activities. Earlier, CryptoPunks owners did not have such an opportunity. 

Based on NonFungible’s data, the Bored Ape Yacht Club collection ranks first in terms of all-time sales at $2.58 billion, with CryptoPunks coming in second at around $2.1 billion. The total NFT market volume over the past 30 days was $39 million, a figure that was almost 50% less than over the previous period. At the same time, the volume of NFT Art category sales during the last 30 days is even less — $886.000, which is 75% less than during the previous period.

Author: Mark Wallerstein
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