NFT giant Yuga Labs – the founder of Yuga and controlling owner of Yuga – recently purchased the intellectual property (IP) of CryptoPunks, the first well-known Ethereum-based NFT collection. Both CryptoPunks and the Infinite Node Foundation publicly acknowledged the transaction on X.com. This announcement is arguably the biggest news yet for the NFT space. Yuga’s acquisition is the first step in putting the project back in crypto-native hands and for the company to refocus on its core mission.
As one of the biggest NFT collections on the Ethereum blockchain, CryptoPunks has gained widespread popularity in recent years. Yet it has a whopping $1.2 billion market cap. Naturally, the collection’s floor price is a testament to its extraordinary value and desirability among collectors. Yuga Labs' decision to acquire the CryptoPunks IP underscores its belief in the project's potential and its commitment to the NFT ecosystem.
Yuga’s recent acquisition of CryptoPunks’ IP will give the company the space and energy to double down on their core mission. This is a huge acquisition that gives Yuga the resources, manpower, and chance to innovate even more within the NFT space. Aronow acknowledged that after the CryptoPunks deal, Yuga will have room to breathe and reorient itself back to its original mission after snagging a key purchase.
Yuga’s strategic denial of rumors earlier this year that it was selling the CryptoPunks IP underscores the importance of this kind of acquisition. With CryptoPunks now under Yuga's umbrella, the hype surrounding the collection may increase Ethereum's network activity. CryptoPunks is currently the largest NFT collection.
This activism was made possible by the Infinite Node Foundation, an important player behind brokering the deal that led to Yuga Labs acquiring CryptoPunks. The foundation’s role is incredibly important to the NFT community. Its involvement highlights the deeply collaborative and shared interest in growing innovative and entrepreneurial projects.

Rohan Prasad
Crypto Feature Editor
Rohan Prasad delivers engaging, community-driven stories on crypto events, blending firsthand experience with expert commentary. Known for connecting with people across the ecosystem, he makes complex DeFi happenings accessible and fun. Outside of work, Rohan enjoys indie music and trekking in the Western Ghats.
Related

Cristiano Ronaldo and Binance Launch "Forever to the Moon" NFT Collection
Crypto exchange Binance and soccer star Cristiano Ronaldo have released “Forever to the Moon,” the sixth edition of their ongoing digital collectible partnership. This collaboration aims to bring the soccer superstar closer to his millions of fans and supporters via cutting-edge Web3 technology. Continuing the momentum of five prior successful...

ToiletDust Set to Launch NFT Collection and Brand in July
ToiletDust will launch its disruptive new NFT collection and brand at DIFC, Dubai, UAE. The minting will occur this July. This Web3-focused rollout represents an important and promising first step into the space from a major company. The purpose behind the collaborative launch is to combine the digital realm of...

Binance and Cristiano Ronaldo Launch "Forever to the Moon" NFT Collection
Binance and Cristiano Ronaldo, soccer’s biggest star, announced that “Forever to the Moon,” a Cristiano Ronaldo-inspired collection of digital collectibles, is now available. This collaboration is the sixth release in their long-standing collaboration. Collectively, they’re combining Web3 tech with the sports industry to turbocharge fan engagement. The special collection hopes...