Bored Apes Yacht Club, founded by an NFT Company, Yuga Labs, has recently declared that they are acquiring the rights to the CryptoPunks and Meebits collections from Larva Labs. The two collections, Bored Apes and CryptoPunks, are the most valuable ones as they hold a market cap of around 5.5 billion. Some rumors that have been roaming around regarding Yuga Labs are the fundraising talks over a few months now, but no official announcement has yet been made.
Yuga Labs announced the deal on Friday saying, the deal “came about in a very organic way from conversations between our partner Guy Oseary and the Larva Labs founders .”Yuga Labs has taken a proactive step in the development of the Bored Apes project’s community alongside announcing a collaboration.
According to Yuga Labs, the commercial rights owned by Bored Ape Yacht Club and Mutant Ape Yacht Club owners will also be granted to CryptoPunks, and Meebits holders as Yuga Labs own the IP now. The project CryptoPunks was launched in 2017 with a huge number of NFTs, around 10,000; they were claimed to be free by the users. It is widely regarded as one of the first and most impactful NFT efforts.
According to OpenSea, the fans have traded around $2.2 Billion worth of CryptoPunks NFTs, followed by more than $1 billion worth of 10,000 Bored Ape Yacht Club NFTs, and the number of Meebits NTFs traded is around $227 Million.
The co-founders of Larva Labs, Matt Hall and John Watkinson, said in a statement that “Yuga Labs are the innovators of the modern profile picture project, and the best in the world at operating these projects.”