{"id":129161,"date":"2025-05-13T16:17:40","date_gmt":"2025-05-13T16:17:40","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129161"},"modified":"2025-05-13T16:17:40","modified_gmt":"2025-05-13T16:17:40","slug":"yuga-labs-sells-cryptopunks-ip-to-infinite-node-foundation","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129161","title":{"rendered":"Yuga Labs sells CryptoPunks IP to Infinite Node Foundation"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsInfinite Node Foundation (NODE), a nonprofit focused on digital art, has acquired the intellectual property of the CryptoPunks non-fungible token (NFT) collection from Yuga Labs, NODE said in a May 13 announcement.\u00a0<br \/>\nThe acquisition of CryptoPunks, plus its additional $25 million endowment, establishes NODE as \u201cthe most well-capitalized nonprofit dedicated solely to digital art in the United States,\u201d the foundation said in an X post.\u00a0<br \/>\nThe terms of the deal were not disclosed.\u00a0<br \/>\nThe nonprofit said it has assembled an advisory board to oversee the CryptoPunks collection. It comprises Matt Hall and John Watkinson \u2014 the artists behind the NFT collection \u2014 and a representative of Yuga Labs, among others.\u00a0<br \/>\n\u201cOur role is to build a networked architecture that allows digital art like CryptoPunks to thrive within both digital and art-historical canons,\u201d NODE said.\u00a0<br \/>\nThe highest-grossing CryptoPunks NFTs. Source: CryptoPunksRelated: Doodles NFT token stalls after airdrop<br \/>\nMost valuable NFT collection<br \/>\nCryptoPunks are \u201calgorithmically generated pixel art characters\u201d that \u201cchanged the art world by existing outside of it and sparked a cultural shift that continues to reshape our digital world,\u201d according to NODE.<br \/>\nIt is the most valuable NFT collection, with a total market capitalization of nearly $1.2 billion across its 10,000 NFTs as of May 13, according to data from CoinGecko.<br \/>\nThe CryptoPunks collection was launched in 2017 by Larva Labs, an NFT designer co-founded by Hall and Watkinson.\u00a0<br \/>\nSince then, the NFTs have clocked upward of $3 billion in sales, according to NODE. Each NFT sale creates royalties for the holders of the NFTs\u2019 IP.\u00a0<br \/>\nIn 2022, the highest-grossing CryptoPunk NFT sold for nearly $24 million, according to CryptoPunks\u2019 website. The collection was purchased in 2022 by Yuga Labs, best known for designing the Bored Ape Yacht Club NFT collection \u2014 the third-largest NFT collection by market capitalization, according to CoinGecko.\u00a0<br \/>\nYuga simultaneously purchased Meebits, another Larva NFT collection, before selling it in February.<br \/>\nIn March, Yuga Labs said the US Securities and Exchange Commission (SEC) closed an investigation into the company in what it described as \u201ca huge win for NFTs.\u201d<br \/>\nMagazine: Meebits and CryptoPunks are like Hot Wheels for adults: New MeebCo owner Sergito<a href=\"https:\/\/cointelegraph.com\/news\/yuga-labs-sells-crypto-punks-ip-infinite-node-foundation?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsInfinite Node Foundation (NODE), a nonprofit focused on digital art, has acquired the intellectual property of the CryptoPunks non-fungible token (NFT) collection from Yuga Labs, NODE said in&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129161"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129161"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129161\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129161"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}