CryptoPunks floor price jumps 13% amid IP sale speculation

The floor price of CryptoPunks NFTs surged by 13% within three hours following rumors that Yuga Labs, the current owner, may be selling the intellectual property rights associated with the collection.

The speculation originated from a January 14 post by Wale.moca, a researcher at NFT firm Azuki, who mentioned "several sources close to the matter" but did not disclose potential buyers.

According to NFT Floor Price data, the price increased from 36.6 Ether (CRYPTO:ETH) (approximately $130,000) to 41 Ether shortly after the post, reflecting heightened interest in the market.

Yuga Labs has not confirmed or denied these rumors.

The CryptoPunks collection boasts a market cap of approximately 414,700 ETH, equivalent to $1.3 billion, making it the most valuable NFT collection globally.

If Yuga Labs proceeds with an IP sale, it would represent a significant shift in the NFT landscape, as CryptoPunks are considered a cornerstone of digital collectibles.

Wale.moca clarified that the potential buyer is neither a Web2 brand nor an existing NFT company like Pudgy Penguins (CRYPTO:PENGU) or Doodles.

The rise in floor price follows a period of relatively low activity for CryptoPunks, which saw only 30 sales in the past 24 hours after months of stagnation.

Critics have raised concerns about separating IP rights from NFT ownership, questioning where the true value lies in such transactions.

Yuga Labs acquired the IP rights to CryptoPunks from Larva Labs in March 2022 for an undisclosed sum when their floor price was around 65 ETH.

Since then, Ethereum's value has risen over 24%, contributing to the current floor price increase.