CandleFocus Yuga Labs may sell the intellectual property rights for CryptoPunks to an unnamed bidder
2025-01-15
Author: Content Editor
Yuga Labs, the owner of the Crypto Punks collection, is rumored to be selling the intellectual property (IP) rights to the collection. The potential buyer is speculated to be a community of NFT enthusiasts or a top NFT collector known as @seedphrase. The rumors have led to a prediction market on Myriad, with the prevalent bet being that the IP rights will not be sold before January 23. The collection's floor price has surged to a one-month high in response to the rumors. The separation of IP rights from NFT ownership raises questions about the value of the collection. Despite the 2024 bull market having a limited effect on NFTs, top collections like Crypto Punks continue to retain value. NFT activity has also shifted to Solana, leaving Ethereum with relatively illiquid collections. The NFT culture is being preserved through various Web3 activities and physical merchandise based on top collections like Crypto Punks.
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