One of the most recognizable projects in the NFT space — the CryptoPunks collection — has changed ownership. The nonprofit Infinite Node Foundation (NODE), which focuses on digital art, announced the acquisition of intellectual property rights to CryptoPunks from Yuga Labs.
Financial Support and NODE’s Ambitions
Along with the collection rights, the foundation received a targeted donation of $25 million, which NODE claims makes it "the most capitalized nonprofit in the U.S. dedicated exclusively to digital art." The terms of the deal were not disclosed.
The foundation has already formed an advisory board to manage the collection. It includes the original creators of CryptoPunks — Matt Hall and John Watkinson — a representative from Yuga Labs, and other experts.
NODE stated that its goal is to build an infrastructure where digital art, including CryptoPunks, can grow and be recognized both in the digital space and in the history of contemporary art.
Rumors and the Road to the Deal
Rumors of a potential sale of CryptoPunks’ rights first surfaced in January 2025. At the time, NFT researcher Wale Moca claimed to have information from multiple sources suggesting Yuga Labs intended to sell the collection’s IP. One of the company’s co-founders, Greg Solano, responded with a curt “Nothing” on X, clarifying that no agreements would be made unless they brought strategic benefit to the project.
Social media was quickly flooded with speculation about potential new owners. Among those mentioned were former NBA star Scottie Pippen, the co-founders of Intel and Milk, Disney, influencer Haliey Welch, and Sam Bankman-Fried, founder of the collapsed FTX exchange. None of these rumors were confirmed.
The Significance of CryptoPunks in the NFT Industry
CryptoPunks was launched in 2017 by the studio Larva Labs and became the first-ever collectible NFT series. The collection includes 10,000 unique pixel characters, algorithmically generated in 24×24-pixel images. According to CoinGecko, the collection currently holds a total market capitalization of approximately $1.26 billion.
Since its launch, total sales have surpassed $3 billion, with some individual pieces reaching record-breaking prices. In 2022, one CryptoPunk (#5822) sold for nearly $24 million.
Later that same year, the project was acquired by Yuga Labs, the creator of Bored Ape Yacht Club — one of the highest-valued NFT collections. Yuga also purchased another series from Larva Labs — Meebits — which it later resold in February of this year.
Following the news, the floor price of CryptoPunks rose 12,06% in the past 24 hours to 47.5 ETH. Trading volume surged by nearly 152%.
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