In just three hours, the base value of CryptoPunks non-fungible tokens (NFTs) saw a 13% surge due to speculation that their owner, Yuga Labs, could be in the middle of negotiating the sale of their CryptoPunks’ intellectual property.
The gossip originated from “Wale.moca,” a researcher working for NFT company Azuki, who based his claim on multiple reliable sources he mentioned in a January 14 post.
He refused to reveal the identity of the potential buyer. Yet, he clarified that the buyer isn’t associated with any established Web2 brand or current Non-Fungible Token (NFT) companies like Pudgy Penguins, Azuki, or Doodles.
CryptoMoon reached out to Yuga Labs but didn’t receive an immediate response.
As a researcher, I observed an intriguing surge in the CryptoPunks floor price. In just three hours following Wale.moca’s recent post, the price escalated from 36.6 Ether (ETH) to a staggering 41 ETH, which translates to approximately $130,000. This data on NFT Floor Prices suggests a significant impact of Wale.moca’s post on the market dynamics of these unique digital collectibles.
Transferring ownership of the intellectual property rights for Yuga’s CryptoPunks could potentially mark a substantial change within the NFT sector, given that these digital artworks are currently among the highest valued NFTs available for sale.
In March 2022, Yuga Labs obtained the intellectual property rights for 423 unique CryptoPunk Non-Fungible Tokens (NFTs) from another NFT company, Larva Labs, for an undisclosed sum.
At that point, the average price for a CryptoPunks NFT was approximately 65 Ether. This represented a significant drop of nearly 37% compared to the present day’s floor price.
Conversely, the price of ETH has risen by more than 24% since that time, as it was previously valued at approximately $2,590 according to CoinGecko’s records.
Yuga is not just the proprietor, but rather the proud owner of the Bored Ape Yacht Clubs, which ranks third in value among non-fungible token (NFT) collectibles on the market.
Greg Solano, a co-founder of Yuga, recently resumed his role as CEO to replace Daniel Alegre back in February. In May, he made a difficult decision by implementing a round of layoffs, stating it was necessary for the company to rekindle its original “creative-first” ethos.
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2025-01-15 02:37