The m&A era of crypto is in full swing thanks to Yuga Labs deal. Yuga Labs just got Boardwalk and Park Place — dewby (@mountaindewbyok) March 11, 2022 Bored Ape Yacht Club creator Yuga Labs announced that it has acquired the IP rights to Crypto Punks and Meebits from Larva Labs. The rights were previously […] The post Ethereum-based Yuga Labs Swallows Up Competition appeared first on CryptosRus.

Ethereum-based Yuga Labs Swallows Up Competition

The m&A era of crypto is in full swing thanks to Yuga Labs deal.

Bored Ape Yacht Club creator Yuga Labs announced that it has acquired the IP rights to Crypto Punks and Meebits from Larva Labs. The rights were previously owned by Larva Labs.

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  • According to Yuga Labs, “this means that we now own the brands, copyright in the art, and other IP rights for both collections, along with 423 CryptoPunks and 1711 Meebits.”
  • Yuga Labs will transfer the rights over to the individual owners the way it does for its Ethereum-based Bored Ape Yacht club NFTs.
  • Owners of Bored Apes so far have been able to parlay their NFTs into their own BAYC-based character collections as well as deals with record labels like UMG. 
  • Larva Lab’s Crypto Punks was the more popular NFT collection for some time but has since been overtaken BAYC. However, it is the first NFT profile pic project to gain traction. CryptoPunks were originally free to anyone with an Ethereum wallet.
  • Current floor price for CryptoPunks is 75 ETH. Meanwhile, Bored Ape Yacht Club NFTs sit at 80 ETH.
  • Meebits, the other project swallowed up by Yuga Labs, has a current floor of 6 ETH.

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