Yuga Labs Transfers CryptoPunks IP: End of an Era for NFTs?

Yuga Labs has transferred CryptoPunks IP to the Infinite Node Foundation. With trading volume up 170% to $2.8 million in 24 hours, is this the end of NFTs or a bold move to preserve digital art?

CryptoPunks are among the most valuable NFTs. During the 2020–2021 bull market, driven mainly by DeFi and NFT activity, each of the 10,000 CryptoPunks was highly coveted. Those “fortunate” enough to purchase them paid millions of dollars in ETH.

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Yuga Labs Hands Over CryptoPunks To NODE

In August 2021, the collection generated $691 million in monthly sales volume. As NFT fever surged, one collector spent $23.7 million to acquire CryptoPunk #5822 in February 2022, making it the fourth most expensive NFT ever.

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For crypto and NFT enthusiasts, the 2021 boom was euphoric, but such valuation spikes may not return for years. Recognizing that NFT trading volume might not recover to billions monthly, Yuga Labs, the team behind Bored Ape Yacht Club (BAYC), announced on May 12, 2025, the transfer of full intellectual property (IP) rights for CryptoPunks to the Infinite Node Foundation (NODE).

Rumors in January suggested the deal was imminent, pushing the floor price higher. Despite confidence that the agreement would be finalized within a couple of weeks, it took months to materialize. During this time, some of the best Solana meme coins, including TRUMP, shot higher, dominating crypto headlines.

I'm now confident enough to share it with y'all after hearing it from several sources close to the matter:

Yuga Labs might be in the process of selling the CryptoPunks IP.

They bought the IP + more than 400 CryptoPunk NFTs from Larva Labs back in March 2022.

Who is the buyer?…

— wale.moca

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