CryptoPunks Have New Home as Nonprofit Acquires Ethereum NFT IP From Yuga Labs
The Infinite Node Foundation has acquired the intellectual property of the CryptoPunks NFT collection from Yuga Labs. The Foundation, which previously announced a $25 million grant for digital art, will manage the 10,000-piece collection originally created by Larva Labs in 2017. Financial terms of the deal remain undisclosed. Natalie Stone, formerly with Yuga Labs, will serve as an advisor to the Foundation. The Foundation aims to focus on preservation, community, and expansion of the collection, facilitating scholarly engagement. Yuga Labs CEO Wylie Aronow emphasized the need for a permanent home for CryptoPunks, which have become a cultural icon. The Foundation plans to host a major exhibition in Palo Alto, California. The CryptoPunks price floor has increased by over 19% recently, reaching $123,086, with total trading volume exceeding $3 billion since 2017.
