Yuga Labs has acquired ownership of the CryptoPunks wrapper, according to a recent tweet by the Punks Restoration Project. The wrapper was handed over to Yuga Labs, the owner of the CryptoPunks intellectual property (IP) following an acquisition from Larva Labs, as part of the project’s initiative to restore and improve the CryptoPunks ecosystem. The move is significant given the history of the CryptoPunks and their eventual acquisition by Yuga Labs.
As part of the Punks Restoration Project the hand off of the CryptoPunks wrapper from @robi_air and his team at @arkgallerydao to @yugalabs is now complete. Punk holders can use https://t.co/uhJ7R9cP3e as the official home of the Punk wrapper moving forward.
— CryptoPunks (@cryptopunksnfts) April 18, 2023
CryptoPunks were created by Larva Labs in 2017 as one of the first non-fungible token (NFT) projects on the Ethereum blockchain. The project consisted of 10,000 unique 8-bit characters, each with their own distinct attributes and traits, such as hair color and accessories. The project quickly gained a cult following, and the characters became highly coveted digital collectibles.
In May 2021, Yuga Labs acquired the CryptoPunks IP from Larva Labs for $69 million in a historic auction at Christie’s. This acquisition solidified Yuga Labs’ position as one of the major players in the NFT space, alongside other notable projects such as Board Apes Yacht Club (BAYC), which Yuga Labs also owns.
The Punks Restoration Project, which aims to restore and improve the CryptoPunks ecosystem, has been active in donating CryptoPunks to notable museums worldwide. As part of this initiative, the project recently announced that the CryptoPunks wrapper has been officially handed over from @Robi_air and the Ark Gallery DAO team to Yuga Labs.
The wrapper is an important component of the CryptoPunks ecosystem, as it enables the wrapping and trading of CryptoPunks on other NFT marketplaces. The official home for the Punk wrapper has been moved to https://wrapped.cryptopunks.app, where users can find information and resources related to their CryptoPunks NFTs. In case of any queries, users can reach out to punks@yugalabs.io, where Yuga Labs’ dedicated team will provide assistance.
With Yuga Labs being the new owner of the CryptoPunks wrapper, it is likely that they will continue to enhance and develop the ecosystem. Yuga Labs has a proven track record of success in the NFT space, and the acquisition of the CryptoPunks IP and wrapper solidifies their position as one of the leading players in the industry.
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