Larva Labs didn’t have to sell the Punks IP to Yuga. All they had to do was to release the IP and project to existing CryptoPunk holders. The community would have taken it from there. Money does really weird things to humans. If Larva Labs had made this simple change they would go down in NFT history as glorious innovators instead of sniveling little tightwads incapable of grasping the true nature of decentralized communities.

Well at least Yuga knows what people want: ownership over their own Punk’s IP….

I don’t know why people are cheerleading this move, well I do know……but it leaves a bad taste in my mouth….as it gives us an indication of where things are headed: more centralization & corporate buyouts. And the launch of Apecoin just happened today…..It looks like Horowitz a16 VC funding is getting in too…

“March 11, 2022 Yuga Labs, the company behind Bored Apes Yacht Club (BAYC), announced the acquisition of the intellectual property rights (IP) of CryptoPunks. The market responded as dramatically as you’d expect: Bored Apes’ floor has jumped 18% to almost 90.0 ETH, while Punks’ is down 6% to 72 ETH.  The two projects were within less than one ETH of each on the day of the announcement, with BAYC’s floor at 76 ETH and CryptoPunks’ at 76.34, according to a Dune Analytics dashboard which compares the two. At $1.4B according to CryptoSlam, BAYC has the second largest sales volume of all-time, trailing only CryptoPunks, which is $2.1B.  Yuga Labs also acquired Meebits’ IP as part of the deal; both Meebits and CryptoPunks were created by Larva Labs. The BAYC creator is now drafting new terms and conditions for its two new collections per the company’s announcement of the acquisition. With Yuga Labs’ acquisition, the company plans to grant CryptoPunks and Meebits the same commercial rights that BAYC holders have, which allow holders to do things like display their specific Bored Ape on a basketball shoe. ” -The Defiant: https://thedefiant.io/yuga-labs-cryptopunks-acquired-bored-apes/