Surveys, social media analysis, community feedback

Yuga Labs Faces Backlash Over New 500-Piece CryptoPunks Collection with Nina Chanel Abney

May 20, 2024, 08:00 PM

Yuga Labs, the company behind CryptoPunks, is facing significant backlash from the CryptoPunks community following the launch of a new 500-piece collection in collaboration with artist Nina Chanel Abney. The new collection, part of the 'Punks in Residence' program, has sparked controversy among CryptoPunks holders, with many expressing dissatisfaction over the perceived dilution of the original brand. Some community members have called for a takeover of CryptoPunks, criticizing Yuga Labs for being out of touch with the community's desires. In response to the backlash, Yuga Labs announced that it will no longer interfere with CryptoPunks, aiming to decentralize the project and only support museums and institutions in obtaining a Punk. Additionally, the new collection will be made available only to SuperCoolWorld holders, potentially through a randomized airdrop. Despite the controversy, some individuals have defended the new collection, praising its artistic value and the collaboration's potential to expand the CryptoPunks brand.