- The CryptoPunks and Meebits assets, as well as a substantial quantity of NFTs from both collections, were bought by Yuga Labs in March from its original developer, Larva Labs.
- Noah Davis was hired by the company in June to serve as its brand lead and manage CryptoPunks’ future.
CryproPunks begins to understand how the new steward intends to increase the utility of the Ethereum NFTs and advance the brand now that Yuga Labs, the company that created Bored Ape Yacht Club, is the new owner.
Noah Davis, who formerly oversaw digital sales at Christie’s and sold Beeple’s $69 million NFT, told Decrypt that Guy Oseary, a seasoned manager and former label executive who represents Yuga Labs, first presented the possibility to him. Oseary was first evasive about the job but later persuaded Davis that it would be worthwhile to accept. Davis consented after being given all the information. “This is a chance I could not pass up,” said Davis. My ideal job, she said.
He has spent the past few weeks visiting with CryptoPunks owners to hear their opinions on the collection, which has generated over $2.3 billion in trading volume and hundreds of NFT sales of at least $1 million each despite being free to mint at launch in 2017.
Work has begun on the https://t.co/HUtumtBD0m Restoration Project. 👇🧵— CryptoPunks (@cryptopunksnfts) October 11, 2022
In addition to the acquisition in March, Yuga Labs said that the Web3 business would provide exclusive commercialization rights to CryptoPunks owners, enabling them to produce projects and derivative goods based on their original artwork. Owners of the Bored Ape Yacht Club already have access to such privileges, and Yuga Labs will also grant them to Meebits owners.
When the IP license agreement is made public on August 15, owners of CryptoPunks will be given those privileges. While the Bored Apes’ commercial license is brief and to the point, the CryptoPunks and Meebits license will reportedly be much lengthier, according to Davis, the overall outcome is the same.