Yuga Labs Sells CryptoPunks to Node Foundation

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8 hours ago

Summary

Yuga Labs sold CryptoPunks to Node Foundation, preserving digital art; deal details remain undisclosed; sale highlights changing NFT market trends.

Key Points

Yuga Labs purchased CryptoPunks from Larva Labs in 2022 for a reported significant amount.
The highest-priced CryptoPunk NFT sold for nearly $24 million worth of crypto, according to the CryptoPunks website.
NODE received a $25 million grant to 'build the future of digital art' from investor Micky Malka and Becky Kleiner.
Malka stated that CryptoPunks 'sparked a cultural movement' and will be used by NODE to make it more accessible for people to engage with.

Why It Matters

The sale highlights the evolving market trends in digital art and the importance of preserving this type of creative work.

Author

Dominic-Madori Davis

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