CryptoPunks and Meebits Acquired by Yuga Labs
It is an exciting time for the NFT community, Yuga Labs has purchased the CryptoPunks and Meebits NFT collections' IP from Larva Labs. In addition to 423 CryptoPunks and 1,711 Meebits, they now own the brands, copyrights to the art pieces, and other IP rights for both collections.
When Yuga decided to build in the NFT space, they had a lot of respect for CryptoPunks and the innovative work of the project's creators. Larva inspired the design of BAYC and propelled NFTs, the Ethereum blockchain, and the broader crypto industry forward. With a vision for a greater ecosystem establishing, Yuga is proud to carry the CryptoPunks and Meebits brands into the future.
This agreement developed organically from discussions between Guy Oseary and the founders of Larva Labs. One conversation led to another, which brought us this historic moment. Larva Labs founders will not be joining Yuga and will continue operating and doing what they do best: building incredible projects that help define the future of web3.
What will Yuga do Next?
Yuga Labs shared that they are going to quickly provide CryptoPunks and Meebits holders the same commercial rights as BAYC and MAYC holders as a first step. They are working with their legal teams to write new terms and conditions for both collections, which they hope to share with the community shortly. As Yuga continues to develop the brands for both CryptoPunks and Meebits, they are expecting third-party developers and web3 communities to incorporate the brands into their projects. The mission is to further align CryptoPunks and Meebits with the web3 ethos by giving true ownership rights to holders.
The intent was never to merge these collections into the well-known BAYC x MAYC model. Yuga plans to maintain the historic feel of these collections but will continue to enhance them with additional utility looking to the community as a guide along the way.