Yuga Labs, creator of the popular #NFT collection Bored Ape Yacht Club, has acquired the rights to leading NFT collections CryptoPunks and Meebits.
Yuga Labs made a statement on Friday. In the aforementioned statement, the company announced that it has acquired the rights to CryptoPunks and Meebits from its creator, Larva Labs. The following statements were used in the statement made on the subject:
“By transferring these rights, we are further aligning CryptoPunks and Meebits with their web3 values, and we expect a wide variety of third-party developers and community creators to incorporate CryptoPunks and Meebits into their web3 projects. Alongside them, we will build an overall brand.”
The company also stated that the first thing they will do is to give NFT owners full commercial rights. In other words, it looks like the owners of CryptoPunks and Meebits will have the same rights as the owners of Yuga Labs' existing collections. The company noted that it is currently working with its legal team to draft new terms and conditions for CryptoPunks and Meebits holders.
These collections represent the most popular NFT collections. CryptoPunks ranked second and Meebits third in OpenSea ranking; Bored Ape is in fourth place.
Yuga Labs' future plans
Yuga Labs has announced that CryptoPunks and Meebits will be part of a wider ecosystem they are building.
In the first step, CryptoPunks and Meebits holders will be rewarded, and the same commercial rights enjoyed by BAYC and MAYC holders will be given to them. The team announced that the legal department has prepared new terms and conditions for both collections.
By transferring these rights, it will further align CryptoPunks and Meebits with their web3 values. Thus, the company aims for third-party developers and community creators to incorporate CryptoPunks and Meebits into their web3 projects.
Yuga Labs has announced that it does not intend to combine these NFT collections with the "club" model they have developed for BAYC. The company stated that BAYC is at the center of the universe they built in Yuga, while CryptoPunks is a historical collection.
Yuga Labs announced that they want to add usability to CryptoPunks and Meebits, but they will do it without rushing, by listening to the community and reflecting on ideas.