Yuga Labs, creators of the Bored Ape Yacht Club (BAYC), acquired the intellectual property (IP) of the CryptoPunks and Meebits collections from Larva Labs.
CryptoPunks and Meebits are popular non-fungible token (NFT) collections on the Ethereum blockchain.
CryptoPunks is a non-fungible token (NFT) collection on the Ethereum blockchain. The experimental project was inspired by the London punk scenes, the cyberpunk movement, and electronic music artists Daft Punk. The crypto art blockchain project was an inspiration for the ERC-721 standard for NFTs and the modern crypto art movement, which has since become a part of the cryptocurrency and decentralized finance ecosystems on multiple blockchains.
The Meebits are 20,000 unique 3D voxel characters, created by a custom generative algorithm, then registered on the Ethereum blockchain.
As part of the acquisition, Yuga Labs owns the copyright for both the CryptoPunks and Meebits collections, as well as 423 CryptoPunks and 1711 Meebits. With this acquisition, they will own the CryptoPunks and Meebit brands and logos, and as they’ve done with their own BAYC collection, the company will transfer IP, commercial, and exclusive licensing rights to individual NFT holders.
Holders of CryptoPunks and Meebits should expect to receive new terms and conditions for their NFTs soon, granting them IP and commercialization rights.
Led by Nicole Muniz, CEO, Yuga Labs, the a web3 platform most known for the creation of the Bored Ape Yacht Club, aims aims to team up with creators and third-party developers to incorporate CryptoPunks and Meebits into digital and physical projects across the world.
FinSMEs
13/03/2022