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    Home » News » Yuga Labs Acquires the CryptoPunks and Meebits Collections

    Yuga Labs Acquires the CryptoPunks and Meebits Collections

    By Bryan TeohMarch 12, 2022Updated:January 27, 20232 Mins Read

    Yuga Labs, creator of the Bored Ape Yacht Club, just announced a blockbuster acquisition! Earlier today, the company broke Twitter by announcing that they acquired both the CryptoPunks and Meebits collections from Larva Labs. The first item on the to-do list is to give full commercial rights to the NFT holders. This was one of the largest criticisms of the Larva Labs projects in comparison to Yuga Labs.

    Yuga Labs acquires CryptoPunks and Meebits
    This is HUGE! Credit: @yugalabs

    Throughout the year, the BAYC creators have had the opportunity to develop an amazing ecosystem. On the other hand, CryptoPunks and Meebits owners can just salivate while thinking what of could have been. Things will be different in the near future as the OG NFT collections move into a new phase.

    In the announcement, Yuga Labs assured that BAYC will always remain the focus of the company. Ultimately, they are trying to build the entire ecosystem, and not just one of the projects.

    Yuga Labs’ CryptoPunks/Meebits

    The deal includes the brands, copyright in the art, and other IP rights for both collections. In addition, Yuga Labs also gets 423 CryptoPunks and 1711 Meebits. Meanwhile, Matt Hall and John Watkinson, co-founders of Larva Labs, will continue to build other amazing projects.

    Yuga Labs will now come up with new terms and conditions for both collections, pushing them towards a more Web3-like nature. Third-party developers and community creators can now approach CryptoPunks and Meebits owners in their Web3 projects, whatever they may be.

    Besides that, Yuga Labs is not planning to rush into anything else for the projects. They intend to collect more ideas and listen to the community before making any decisions. The team is well aware that the CryptoPunks and Meebits communities are each unique and different from the BAYC community. Therefore, this approach makes a ton of sense for the company, owners, and the community at large.

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    All investment/financial opinions expressed by NFTevening.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

    Bored Ape Yacht ClubCryptoPunksMeebitsYuga Labs
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    Bryan Teoh

    Bryan is a content writer based in Malaysia. Aside from food and sports, his interests include blockchain, cryptocurrencies and NFTs.

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