ICYMI: Bored Apes creator Yuga Labs acquires IP for CryptoPunks and Meebits
Yuga Labs, the creator of popular non-fungible token project Bored Ape Yacht Club, has just acquired the rights to two of the most popular NFT collections on the market.Friday that it acquired the intellectual property rights of CryptoPunks and Meebits NFT collections from Larva Labs.
This means CryptoPunks and Meebits holders will be granted the same rights as holders of Yuga Labs' existing collections. It's currently working with its legal team to draft new terms and conditions for the holders of CryptoPunks and Meebits. But CryptoPunks and Meebits won't necessarily take on the"club" model that BAYC utilizes. Yuga said BAYC will continue to be the central project, while CryptoPunks is a"historic" collection. Indeed, CryptoPunks was one of the first major NFT collections to gain broader attention. Yuga Labs will, however, look to add utility to the CryptoPunks and Meebits collections.
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