Yuga Labs Acquires the CryptoPunks and Meebits Collections | NFT News

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.

Throughout the year, BAYC owners has 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 community are each unique and different from those in the BAYC community. Therefore, this approach makes a ton of sense for the company, owners, and the community at large.