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How will Yuga Labs primarily use the funds from the CryptoPunks IP sale by July 31, 2025?
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Yuga Labs•CryptoPunks•Larva Labs•Kevin Rose•NFT•Wale•Web2•CryptoPunk•Punks Legacy Project•Avant Arte
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Story
Yuga Labs Sells CryptoPunks IP to Kevin Rose for $65 Million
Jan 14, 2025, 08:46 PM
Yuga Labs, the owner of the CryptoPunks intellectual property since acquiring it from Larva Labs in March 2022, is reportedly in the process of selling the CryptoPunks IP to entrepreneur Kevin Rose for $65 million in stock and ethereum. According to NFT insider Wale, the potential buyer is neither a major Web2 brand nor another established NFT company. The plan of the new owners, as per the rumors, is to leave the IP untouched. Speculation about the buyer has ranged from a DAO of CryptoPunk holders to notable figures in the NFT space. Yuga Labs has not officially commented on these rumors. Since acquiring CryptoPunks, Yuga Labs has initiated several projects to elevate the brand, including the Punks Legacy Project, publishing a book on CryptoPunks history, and collaborating with Avant Arte on high-end prints for holders.
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