Yuga Labs has transferred the intellectual property rights for its leading NFT series, CryptoPunks, to The Infinite Node Foundation (NODE). This means that NODE now owns the artwork from theCryptoPunks collection.
Once more, CryptoPunks have switched owners, with Yuga Labs having transferred the intellectual property rights of this renowned series to the Infinite Node Foundation (NODE).
In March 2022, Yuga Labs obtained the rights to CryptoPunks along with acquiring the intellectual property of the Meebits NFT series. Initially released by their initial small development team called Larva Labs back in 2017, this collection gained prominence over several years.
The Infinite Node Foundation has taken on the task of safeguarding the collection via its X account.
Following the IP acquisition, the creators of Larva Labs, Matt Hall and John Watkinson, who are also the artists, were involved.
will return
With updated governance roles. The aim of the acquisition is to prevent digital deterioration and ensure the longevity of the NFT within the collection.
Yuga Labs has been actively promoting and managing the collection through various events and exhibitions. The company’s cofounder reminisced about past occurrences at prominent art museums, where they presented CryptoPunks as valuable digital artwork.
Owners of NFTs also possess the commercial rights to their visuals, enabling them to create and distribute branded products. This series boasts 4,133 proprietors, including several digital currency advocates who selected these images as their profile pictures.
CryptoPunks floor price spikes to six-month high
CryptoPunks continues to lead as the most expensive NFT collection, with a floor price exceeding 47 ETH when acquired. Its floor value surged to its highest point in half a year but remained significantly below its record-breaking peak of more than 113 ETH set in 2021. Recent trading activity has seen an uptick, including one Punk selling for 148 ETH.
The collection has apparently amassed trading volumes exceeding $3 billion throughout its existence. Additionally, Punks have been made available via Sotheby’s auctions, thereby emerging as one of the defining symbols of crypto culture.
The collection was replicated across various chains and platforms with modifications, setting a precedent for other NFT communities. Nevertheless, similar to other NFTs, there isn’t one unified approach to safeguarding and displaying these images. This means that the disappearance of NFT platforms or system upgrades could jeopardize the existence of this digital artwork.
Established in 2025 by Micky Malka and Becky Kleiner, the Infinite Node Foundation aims to utilize its funds and assets to safeguard a gallery of 10,000CryptoPunks. To ensure security from a technological standpoint, the foundation will operate its dedicated cryptocurrency node. Additionally, with respect to digital artwork, the Node Foundation intends to host displays and specially organized events designed to highlight this collection.
Each owner will keep the right to exchange their NFTs. Nonetheless, the act of trading these intellectual property rights raises questions about the enduring nature of NFT collections and their potential lack of stability in the digital realm without specific conservation efforts.
Yuga Labs will continue to hold ownership of the Punk NFTs even after contributing five specific images to the Infinite Node Foundation. The firm will stay involved by offering guidance and direction in maintaining the impact of this collection.
In recent years, NFT trading volumes have declined, leaving mostly high-value collections intact. Ethereum continues to be the most active blockchain for these transactions.
NFT trading
, even though it has the most documented wash trades.
Academy: Interested in expanding your wealth in 2025? Discover how you can achieve this through DeFi in our forthcoming web class.
Save Your Spot
Discover more from newsonblockchain.com
Subscribe to get the latest posts sent to your email.
