#CryptoPunk #YugaLabs #NFT #ETH
In a bombshell move that screams end of an era, Yuga Labs — the powerhouse behind Bored Ape Yacht Club — has officially sold the iconic CryptoPunks NFT collection to the Infinite Node Foundation, a nonprofit committed to preserving digital art 🖼️✨. Once the crown jewel of the NFT boom, CryptoPunks had fetched millions per token, including a jaw-dropping $24 million sale in $ETH in 2022. But with the NFT market now a fading shadow of its 2021 glory, Yuga’s decision to transfer the IP to a nonprofit signals a sobering reality: the golden days may be over. 😮💀
Despite keeping some of its CryptoPunks holdings, Yuga is washing its hands of any commercial ambition with the brand. “Punks needed a permanent home built for preservation,” said co-founder Wylie Aronow, describing the handover as a “full-circle moment.” 🔄💼 NODE isn’t just collecting — it’s going all in, creating an advisory board with OG creators and launching global museum partnerships to immortalize the pixelated legends. Plans are underway to display all 10,000 NFTs at their Palo Alto exhibition space and in major art museums. 🎨🏛️
But let’s be real — this move is as much about legacy as it is about damage control. Yuga’s messy Super Punk World project, accused of being too “woke” and off-brand, triggered community backlash 😡💬. Combine that with declining market value and Meebits already being sold off, and it’s clear Yuga is pivoting hard toward its Otherside metaverse. Meanwhile, NODE's $25M endowment and mission to "future-proof" CryptoPunks could finally secure the place these cultural artifacts deserve — not in crypto wallets, but on the walls of modern art history. 🏆🔐