BAYC creators acquire cryptopunks and meebits collection

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This is a HUGE play from Yuga Labs. 😳 Metaverse monopolisation. 🏢

Yuga Labs, the creators of the sought-after Bored Ape Yacht Club NFT collection, has acquired CryptoPunks and Meebits from Larva Labs for an undisclosed sum.

Rumors of the development had been circulating across the NFT community throughout Friday, before the two design studios announced the update late evening. In a tweet storm, Yuga Labs said that it would be granting CryptoPunks and Meebits owners intellectual property rights to their NFTs, similar to how Bored Ape owners have commercial rights to their cartoon apes. “It’s been amazing to watch the BAYC ecosystem use their rights to collaborate and build awesome shit we never could have dreamed up,” a post read. “We can’t wait to see the Cryptopunks and Meebits communities do the same.” 🍌

Larva Labs wrote that CryptoPunks and Meebits had helped lay the foundations for other profile picture NFT projects and now “need a steward with a different skill set in order to continue growing.” In a Mirror announcement, joint quote from Larva Labs co-founders Matt Hall and John Watkinson.