Historic Sale: CryptoPunks Finds a New Home with NODE Foundation
In a landmark move, Yuga Labs, the innovative powerhouse behind the Bored Ape Yacht Club and other significant NFTs, has transferred ownership of the legendary CryptoPunks collection to the NODE Foundation, a nonprofit dedicated to the preservation of digital art. While financial specifics of the deal remain undisclosed, a spokesperson for Yuga Labs opted not to provide further comment.
Earlier this year, NODE Foundation made headlines by securing a substantial $25 million grant, courtesy of investors Micky Malka and Becky Kleiner, both influential figures in the digital art landscape. The foundation’s mission is to “shape the future of digital art,” with Malka serving as its chair.
Yuga Labs originally acquired CryptoPunks from Larva Labs back in 2022 amidst an explosive surge in NFT values, which saw some tokens fetching staggering prices. Notably, one CryptoPunk NFT was sold for nearly $24 million, making it one of the priciest digital assets in history, according to records from the CryptoPunks website.
However, the NFT marketplace has since experienced a notable slowdown. Malka remarked that CryptoPunks not only catalyzed a cultural movement but also emphasized NODE Foundation’s commitment to ensuring this iconic collection remains accessible for future generations of digital art enthusiasts. With this acquisition, the foundation aims to “future-proof” these pivotal works, opening doors for greater public engagement.
As the digital art world evolves, all eyes will be on NODE Foundation and its endeavors to make this cultural touchstone a lasting legacy.