CryptoPunks Community in Turmoil Over Rumors of IP Sale by Yuga Labs

01/16 12:54

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The CryptoPunks community is facing rumors that Yuga Labs may sell the intellectual property (IP) rights of the CryptoPunks non-fungible token (NFT) collection. The rumor has caused a backlash among fans and industry voices, with some expressing dissatisfaction with Yuga Labs' management of the IP since its acquisition in 2022. Yuga Labs' co-founder, Greg Solano, addressed the rumors and clarified that while he didn't rule out the possibility of a deal, any potential agreement would need to guarantee a long-term positive impact on CryptoPunks. Amid the backlash, managing partner at Electric Capital, Avichal Garg, proposed an alternative of transferring the CryptoPunks IP to a decentralized autonomous organization (DAO).

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