Yuga Labs acquires CryptoPunks and Meebits! Holders gain the same commercial rights as Bored Ape Yacht Club

The creative team behind the well-known NFT project Bored Ape Yacht Club (BAYC) announced today that they have acquired the IP (Intellectual Property) for CryptoPunks and Meebits from Larva Labs. Holders of CryptoPunks and Meebits will now have the same commercial rights as BAYC and Mutant Ape Yacht Club (MAYC) holders. Announcement

The Power Gap Between Two Prominent Projects

When it comes to the top two blue-chip NFT projects, many people may think of CryptoPunks and BAYC. However, due to copyright ownership issues since the end of last year and Larva Labs' inaction, many CryptoPunks holders have gradually become skeptical of the project, believing that they do not actually have commercial usage rights to their NFTs.

Compared to BAYC created by Yuga Labs, which not only rewarded mutant apes NFTs to Bored Ape Yacht Club holders in October last year but also recently announced a partnership with sportswear brand adidas and collaborated with game developer Animoca Brands to develop Play-to-Earn blockchain games. Moreover, in terms of copyright, they are quite open, stating officially that once you purchase the NFT, you fully own it, including the artwork content, with no restrictions on commercial use. This means that holders can profit from selling merchandise, creating derivative works, exhibitions, and more.

Due to the aforementioned differences, the BAYC community is more united and active, and its floor price has surpassed that of CryptoPunks.

Yuga Labs Acquires IP of Two Major Projects

"Yuga Labs is the innovator of contemporary PFP projects and the best company in the world at operating these projects. They are the ideal stewards of CrytoPunks and Meebits. In their hands, we believe they will continue to be essential and thriving projects in the emerging decentralized web." said Larva Labs' co-founders Matt Hall and John Watkinson.

Today, 3/12 marks a historic day for the NFT industry, as Yuga Labs has acquired the IP of CryptoPunks and Meebits. Holders of CryptoPunks and Meebits will have the same commercial rights as BAYC and MAYC holders, bringing a conclusion to the comparison between the two teams.

This acquisition does not mean that Matt Hall and John Watkinson will join Yuga Labs; they will continue to operate Larva Labs. The Yuga Labs team will not directly integrate the newly acquired projects into the "Yacht Club" developed for BAYC but will treat them as a collection series with historical significance. Before making any new moves, they will first listen to the community's opinions.

Meebits Price Doubles, CryptoPunks and BAYC Cross Paths Again

Prior to the official announcement of the acquisition, rumors similar to this news had already spread within the community, leading many investors to strategically buy Meebits at lower prices yesterday, causing its price to quickly rise. Its average price on the secondary market has increased from about 3.5 ETH to 7 ETH, with a floor price of 6.93 ETH, approximately $18,000.

Additionally, the prices of CryptoPunks and BAYC have once again intersected. The current CryptoPunks floor price is 76.2 ETH, approximately $197,000, while BAYC is 74 ETH, approximately $192,000, with a small difference between them.