Yuga Labs, renowned for developing the Bored Ape Yacht Club and other prominent NFTs, has transferred ownership of its famous CryptoPunks to a non-profit organization.
NODE Foundation
, concentrating on safeguarding digital artwork. The specific terms of the deal have not been disclosed, and a spokesperson chose not to comment further. Earlier in April, NODE mentioned they had received
a $25 million grant
To “shape the future of digital art” with support from investor Micky Malka and Becky Kleiner. The former serves as the chair of the foundation.
In 2022, Yuga Labs acquired CryptoPunks from Larva Labs during the peak of the digital token frenzy when NFTs were fetching multi-million dollar prices. As reported, the most expensiveCryptoPunkNFT was sold for almost $24 million worth of cryptocurrency.
CryptoPunks website
.
The markets
have slowed since then
, however. Malka
said that
CryptoPunks “ignited a cultural phenomenon,” and NODE aims to “future-proof this iconic creation” so that more people can easily interact with it.