CryptoPunks Owners Shocked: Is Yuga Labs Selling Your Favorite NFTs?

Yuga Labs has stirred discussions after speculation emerged regarding the future of CryptoPunks’ intellectual property rights, which is sending CryptoPunk NFT holders into disarray.

The speculation began when rumors circulated about Yuga Labs potentially selling the IP rights of CryptoPunks. Various entities have been named as possible buyers, including Hifo Labs, Kevin Rose, BlackRock, and MetaTrustGG. Yuga Labs’ CEO has publicly dismissed these rumors, and no confirmed sale has occurred.

CryptoPunks Sell Off Rumors – Is Yuga Labs Establishing a Mysterious IP Deal in the Shadows?

Known as the creator of the Bored Ape Yacht Club (BAYC), Yuga Labs, has been at the forefront of the NFT space. The NFT powerhouse, acquired the IP rights for CryptoPunks from Larva Labs in March 2022.

This acquisition included the brand, copyright in the art, and other IP rights. Yuga Labs also gained ownership of 423 CryptoPunks and 1711 Meebits. Since the acquisition, Yuga Labs has granted CryptoPunks holders full commercial rights to their NFTs, similar to those given to Bored Ape Yacht Club (BAYC) owners.

As of now, CryptoPunks remains a highly valued NFT collection. Also, Yuga Labs has introduced a new contract, CryptoPunks721. This contract wraps the NFT to improve the efficiency and safety of CryptoPunks transactions.

(source)

CryptoPunks NFT collection shows strength despite fluctuations by maintaining its value. Cryptopunks, featuring 10,000 unique 24×24 pixel art characters, is often hailed as one of the best NFT projects on Price Volume in 24h Price 7d

According to the latest data, cryptopunks hold a significant position in the NFT market. According to to CoinGecko, CryptoPunks have a floor price of 40.38 ETH, a 24-hour trading volume of 1,040 ETH, and a total of 3,844 holders.

Before the Yuga Labs sale rumors, CryptoPunks were in several dramas. CryptoPunk “V1” Punks saga brought up disputes when original versions were traded on alternative platforms after a DMCA takedown expired.

Yuga Labs introduced “Super Punk World” in 2024, facing community backlash for the perceived dilution of the brand. This led to a promise to preserve CryptoPunks on the blockchain.

LL has forced @opensea to remove V1 Punks collection because of a DMCA takedown.

We are responding via a counter-notice from our counsel in due course. We look forward to updating you further.

In the meantime, trade using https://t.co/KjPg88vDqE or @LooksRareNFT pic.twitter.com/1qmgdQrR7l

— CryptoPunks ᵛ¹ (@v1punks) February 7, 2022

High-profile sales, like the misunderstood transaction of CryptoPunk #9998, added to the drama. Legal challenges also emerged as Yuga Labs took a more protective stance on CryptoPunks IP.

These events shaped CryptoPunks by highlighting tensions between preserving the original vision and adapting to market changes.

Meanwhile, the potential sale of CryptoPunks news could impact its NFT ecosystem. If Yuga Labs decides to transfer these CryptoPunks IP rights, it might open up new avenues for the development and use of CryptoPunks in various projects and increase their utility.

On the other hand, the project’s stability could be at risk if the new owner does not handle the IP with the same regard for community and creator rights.

In another report, some X accounts tweeted jokes that the Huak Tuah Girl is the one buying CryptoPunks. Adding drama and fun to CryptoPunks sale rumors.

Breaking 🚨: Yuga is reportedly preparing to sell CryptoPunks to a highly wealthy buyer who wishes to remain anonymous for now. But guess what? Our sources have already uncovered the mystery buyer.

And at the very end… it’s Hawk Tauh Girl 😎. @HalieyWelchX

— BRΞAK the M@tr!x || Locus.btc (@locus_nft) January 14, 2025

While no official announcements have confirmed the sale of CryptoPunks, the discussions around it continue to shape expectations. If a sale does occur, the new owner would inherit a collection with a rich legacy from Yuga Labs.

I had heard of several bids since last September but never a confirmed acquisition.

Just because there are bids does not mean Yuga is in the process of selling the IP. Holders already own their Punks IP too.

Would be careful if you are trading on that! https://t.co/uKhnzmp4Do

— Farokh (@farokh) January 14, 2025

At this juncture, all information points to rumors and market reactions without confirmation of any IP transfer. Yuga Labs has not officially acknowledged any sale, and until there’s an official statement, CryptoPunks’s ownership status remains unchanged.

Will the sale of CryptoPunks ever be done? Nonetheless, CryptoPunks will continue to be a benchmark in the NFT world.

EXPLORE: Dust Settles Over XRP Price Crash: Best Presale to Buy in 2024?

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