Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) and Otherside metaverse, has transferred the intellectual property (IP) of CryptoPunks, one of the most valuable NFT collections, to NODE, a California-based nonprofit organization dedicated to preserving digital art. Funding long-term preservation of the entire CryptoPunks collection. With this move, Web3 goes all in on preservation. The NFT collection that started it all, this lootbox of 10,000 generative digital artworks sparked a cultural revolution that fused technology, community and capitalism. The exact financial terms of the settlement are confidential. Even so, the transfer has already rattled the establishment, with CryptoPunks’ daily trading volume increasing a whopping 170% in 24 hours.

CryptoPunks' Cultural Impact and Market Performance

CryptoPunks entered the scene as a trailblazer in the NFT world, quickly becoming the darlings of the NFT market and fueling the passion of collectors and enthusiasts. During the 2020-2021 bull market, each one of the 10,000 CryptoPunks was highly sought after by collectors. Some of these unique digital pieces even fetched sales of millions of dollars in ETH.

"CryptoPunks sparked a cultural movement that blended code, community, and commerce." - Micky Malka

In August 2021, CryptoPunks broke a record with $691 million in monthly sales volume. The collection is still one of the most valuable NFTs on record. In February 2022, one collector grabbed headlines by spending $23.7 million—yes, million—to buy CryptoPunk #5822. The market was very volatile, with monthly average sales reaching a bottom of $7.7 million as recently as September 2023. That looks flukey until you consider that in May 2025, the average sale price of CryptoPunks had risen to $121,605. Total sales exploded, doubling past $9.7 million.

Yuga Labs' Strategic Shift

With the purchase of CryptoPunks in March 2022, Yuga Labs brought one of the most important NFT collections to its roster. The business has made the judgment to hand over that IP to NODE. This strategic move gives Yuga Labs the ability to focus more on their core brands, BAYC and the Otherside metaverse. Per sources, in addition to giving the CryptoPunk brand its own spotlight, this move will strengthen the Overall brand.

"Yuga passing on the CryptoPunks IP to @nodefnd is the move." - Djani (@DjaniWhaleSkul)

"It's not that @yugalabs did anything wrong but Punks were never meant to sit on a shelf next to Apes." - Djani (@DjaniWhaleSkul)

"This IP deserves its own spotlight, its own tempo, its own team fully committed to the culture." - Djani (@DjaniWhaleSkul)

NODE's Vision for CryptoPunks

NODE, the new owner of the CryptoPunks IP, is a nonprofit organization focused on the long-term preservation of digital art. The organization’s immediate goals are to promote the long-term preservation and accessibility of the CryptoPunks’ collection. To this end, the nonprofit Infinite Node Foundation will kick off a CryptoPunks exhibition next month in Palo Alto.

"By pairing museum-grade conservation with an evergreen endowment, we intend to future-proof this landmark work and make it easier than ever for scholars, curators, and collectors to engage with it." - Micky Malka

The implications of the transfer IP to NODE have already had a chilling effect on the market. Following the announcement, CryptoPunks' trading volume soared 170% to $2.8 million in 24 hours, indicating renewed interest in the collection.