"It was also never clear how much Yuga Labs spent to acquire CryptoPunks in its heyday, but being sold to a non-profit is probably not a good sign for, well, profitability."
"Yuga is still one of the biggest holders of Punks, and like all other CryptoPunks NFT holders, will retain the right to its CryptoPunks characters under the IP license."
Yuga Labs, after acquiring CryptoPunks in 2022, has sold the NFT collection to the Infinite Node Foundation, a nonprofit aiming to preserve digital art. As the NFT market stagnates, Yuga Labs emphasizes the importance of CryptoPunks' legacy, although the sale to a nonprofit could suggest challenges in profitability. The deal's financial details remain undisclosed, and CryptoPunks will not be integrated into Yuga's Otherside metaverse. Yuga Labs retains ownership rights to the CryptoPunks under its existing IP license, highlighting their ongoing connection to the brand.
Read at The Verge
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