Yuga Labs, known for the Bored Ape Yacht Club, has sold the rights to CryptoPunks to the lesser-known Infinite Node Foundation. This news raises many questions.
What Happened with Yuga Labs and CryptoPunks?
Yuga Labs has reported the transfer of intellectual property rights for the CryptoPunks collection. This means that Infinite Node Foundation will gain control over how the brand is used, marketed, and developed. Considering that Yuga Labs acquired the rights to CryptoPunks and Meebits from Larva Labs in March 2022, this also highlights a shift in their strategy.
Who is Yuga Labs?
Yuga Labs was founded in 2021 and quickly rose to prominence with the Bored Ape Yacht Club. Following this, they actively acquired other NFT collections, including CryptoPunks and Otherside. Their strategy is centered on creating a powerful ecosystem around well-known brands in the digital collectible space.
What Do We Know About the Infinite Node Foundation?
Information about the Infinite Node Foundation is limited, and their emergence as the buyer of the CryptoPunks IP raises questions. It is unclear whether they are a newly formed entity specifically for this purpose or have existing connections to the CryptoPunks ecosystem. Understanding their goals and capabilities will be crucial for reevaluating the future of CryptoPunks and the entire digital collectibles space.
The sale of CryptoPunks IP from Yuga Labs to the Infinite Node Foundation marks a significant event in the digital collectibles industry. This decision will be influenced by various factors, including community expectations and the strategic goals of the new owner.
