Bored Ape Yacht Club Creator Has Acquired CryptoPunks
In a twitter announcement, Yuga Labs said that it would be granting CryptoPunks and Meebits owners intellectual property rights to their NFTs, similar to how Bored Ape owners have commercial rights to their apes, which partly contributed to the collection’s success.
“It’s been amazing to watch the BAYC ecosystem use their rights to collaborate and build awesome shit we never could have dreamed up. We can’t wait to see the Cryptopunks and Meebits communities do the same,” the company tweeted.
Yuga Labs, however, stressed that its main focus will remain on the Bored Ape Yacht Club (BAYC) collection.
Both Cryptopunks and Meebits Among Top NFTs
With BAYC owners holding full intellectual property rights to their apes, holders took the opportunity to launch various Bored Ape-branded enterprises, including an Arizona Iced Tea ad campaign and a Gorillaz-inspired "metaverse band" from Universal Music Group.
However, now that the IP rights of CryptoPunks will be controlled by Yuga Labs, the company's said that they are not in a rush to do anything for now:
“We're not in a rush to do anything but give people their IP, see what they build, and listen."
Both Cryptopunks and Meebits were developed by Larva Labs studio and are among the top NFTs on OpenSea, ranking just above Bored Ape Yacht Club.