Bored Apes Yacht Club maker Yuga Labs announced Friday that they have acquired the rights to the CryptoPunks and Meebits NFT collections from creator Larva Labs.
Bored Apes and CryptoPunks are the two most valuable NFT collections by market cap, and hold a combined worth at a minimum of some $3.6 billion at current prices. Yuga Labs has been rumored to be in fundraising talks over the past several months but has not made any official announcements.
Terms of the deal were not announced.
CryptoPunks and Meebits NFTs are owned by members of the community, but the intellectual property rights of the characters had long (and controversially) been owned by the projects’ creators. With this announcement, Yuga Labs signaled that they will be giving full commercial rights of the NFTs to the individual holders; they notably won’t be transferring the full copyright, but is a step further than Larva Labs ever went and something owners had long desired.