Bored Ape Yacht Club’s Yuga Labs acquires CryptoPunks and Meebit IPs from Larva Labs
One of the first steps associated with this acquisition is to pass IP and commercial license to NFT holders of both. This is according to a statement made by the company: “With this acquisition Yuga Labs will own the CryptoPunks and Meebit brands and logos, and as they’ve done with their own BAYC collection, Yuga Labs will transfer IP, commercial, and exclusive licensing rights to individual NFT holders.”
It makes perfect sense for this to be step one for Yuga. When BAYC first launched back in April, 2021, it afforded the same rights for its NFT holders. This ownership has allowed celebrities and even brands to put them to work.
While the announcement is an interesting one on its own, Yuga Labs was insistent on ensuring its community that BAYC remained its priority. “To be clear: the BAYC ecosystem will remain the centre of our universe… We believe that what’s good for Punks is good for Apes and the rest of the space. Likewise, what’s good for Apes is good for Punks. We want to grow the pie, not fight over slices.”