Bored Ape Yacht Club's Yuga Labs acquires CryptoPunks and Meebits
Bored Ape Yacht Club or BAYC is one of the most popular and most expensive NFT collections that have ever been created. This NFT collection was the work of Yuga Labs. In a recent turn of events, it has been confirmed by the creator that it has also bought Meebits and CryptoPunks, two of the hottest and most trending NFT collections out there.
Yuga Labs bought Meebits and CryptoPunks
Yuga Labs has confirmed the purchase of Meebits and CryptoPunks from Larva Labs, a team of creative technologists, Matt Hall and John Watkinson. CryptoPunks are 10,000 uniquely generated characters in which no two characters are alike and are one of the oldest collections in the NFT industry. Moreover, Meebits are over 20,000 unique 3D voxel characters, created by a custom generative algorithm.Yuga Labs confirmed that they "now own the brands, copyright in the art, and other IP rights for both collections, along with 423 CryptoPunks and 1711 Meebits." The official statement from the new owners also stated:
This acquisition does not mean that Matt and John are joining Yuga. They’re going to continue running Larva Labs and will keep doing what they do best: creating awesome projects that help shape the future of web3.
The next step
As per the official statement, Yuga Labs "will soon be granting CryptoPunks and Meebits holders the same commercial rights that BAYC and MAYC owners enjoy." New terms and conditions are being drafted and soon, the new owners will release them to the community members. They also aim to align the two collections with web3 ethos and as a result, the new owners "expect a wide range of third party developers and community creators to incorporate CryptoPunks and Meebits into their web3 projects."While we will work to bring additional utility to both the CryptoPunks and Meebits collections, we intend to do so as thoughtful stewards. We’re not in a rush here. We’ll be listening to the community before we decide what comes next.
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