Larva Labs

History

2022: Uniting the world's largest NFT collections

In March 2022, Yuga Labs, the creator of the popular Bored Ape Yacht Club NFT image series, announced the acquisition of the CryptoPunks and Meebits series, as well as all the rights to them from their creator Larva Labs. Thus, now one company will be responsible for the development and sale of all three series. This transaction is characterized as a merger of the world's largest NFT collections.

With this acquisition, Yuga Labs will own the brands and logos of CryptoPunks and Meebit, and as they did with their own BAYC collection, Yuga Labs will transfer intellectual property rights, commercial and exclusive licensing rights to individual NFT owners.

The world's largest NFT collections merged into one company

Youga Labs, which launched the BAYC collection in April 2021, has already granted all owners of NFT Bored Ape a full license to use their images for any commercial purposes. Entrepreneurs, brands and celebrities quickly took advantage of the BAYC phenomenon and launched various enterprises under the Bored Ape brand, including the Arizona Iced Tea advertising campaign and the Gorillaz-inspired metavers group from Universal Music Group.

Larva Labs, the creators of the CryptoPunks collection, did not want to grant the same commercial license to their NFT holders, which became a source of disagreement among CryptoPunks investors. As a result, several well-known holders abandoned the project, including the famous pseudonym "punk4156," which in December told Decrypt that it was the intellectual property dispute that caused the sale of its NFTs CryptoPunks for $10 million.

For clarity: the BAYC ecosystem will remain the center of our universe, "the company tweeted. We believe that what is good for punks is good for monkeys and the rest of the space. Just as good for monkeys, good for punks. We want to grow a pie, not fight for pieces.

We are not in a hurry to do anything, but simply give people their IP, look at what they create, and listen - they in their statement.[1]

Notes