Yuga Labs Offloads CryptoPunks IP to Infinite Node Foundation – The Deal of the Century?

by

And so it begins. The Infinite Node Foundation (NODE), a nonprofit devoted to the pixelated whispers of digital art, has claimed ownership of the CryptoPunks intellectual property from Yuga Labs, with the revelation coming on May 13. The announcement has all the drama of a blockbuster movie. 💥

Now, with CryptoPunks in hand and a delightful $25 million endowment to sweeten the deal, NODE now stands proudly as “the most well-capitalized nonprofit dedicated solely to digital art in the United States.” A pretty boastful title for an organization that’s still figuring out what to do with all that wealth. But, hey, who’s counting? 🙄

Details of the deal? Oh, those remain hidden in a vault somewhere. As secretive as your grandma’s cookie recipe. 🍪

But wait, there’s more! NODE has pulled together an advisory board to steer the CryptoPunks collection into its next chapter. The legendary Matt Hall and John Watkinson—the creative minds behind the whole CryptoPunks saga—are at the helm, with a few friends from Yuga Labs thrown in for good measure. What a team, right? 🦸‍♂️

they want to ensure CryptoPunks are remembered as more than just pixelated doodles. 🖼️

The Digital Mona Lisa, But Cooler

CryptoPunks, in all their glory, are “algorithmically generated pixel art characters.” They waltzed into the art scene like an uninvited guest at a cocktail party and immediately changed everything. According to NODE, these digital characters “changed the art world by existing outside of it” and sparked a “cultural shift” that still baffles the art elite to this very day. Oh, and let’s not forget, they’re worth more than your life savings. 💰

Currently sitting at a market capitalization of nearly $1.2 billion, CryptoPunks are the crème de la crème of NFTs. Who needs a Picasso when you can own a 24×24 pixel face? A total of 10,000 CryptoPunks are in circulation, each one more precious than the last. Go ahead, try getting your hands on one now! 🖥️💸

The collection was birthed back in 2017 by Larva Labs, co-founded by Hall and Watkinson. Fast-forward to today, and the CryptoPunks have seen over $3 billion in sales, with each transaction delivering royalties to the lucky holders of the IP. Feel free to grab some popcorn while you wait for the next sale. 🍿

In 2022, a particularly rare CryptoPunk went for nearly $24 million. You can almost hear the gasps from here. Can you imagine? I can’t even afford my rent. 💀

As for Yuga Labs, the same company that gave us the Bored Ape Yacht Club (BAYC), they purchased CryptoPunks in 2022, before flipping the collection as part of their “we’ve made our millions, now let’s move on” philosophy. They also snatched up Meebits, another NFT collection from Larva Labs, only to sell it off in February. And don’t even get me started on their battle with the SEC—because apparently, that’s a win for NFTs. 🤷‍♂️

Read More

2025-05-13 20:00