CryptoPunks, a globally acknowledged non-fungible token collection, has surged in trading sales volume after reports emerged that Yuga Labs may be in the process of selling its intellectual property (IP). In line with this bullish news, the CryptoPunks NFT sales volume has jumped +500% to over $3 million, becoming the most-selling NFT collection in the global NFT market.
Punks Rise +500% In Daily NFT Sales Volume
Data compiled by cryptoslam.io , an on-chain crypto market data aggregator and a non-fungible token explorer, shows that the CryptoPunks NFT collection has significantly surged in trading sales volume. In the past 24 hours, the CryptoPunks NFT collection has recorded a trading sales volume of $3.04 million. During this time, the CryptoPunks NFT trading sale volume has risen by over 570% from the past day.
Launched in 2017, CryptoPunks is a renowned non-fungible token collection from the digital asset incubation studio Larva Labs. It features a limited edition of 10,000 pixilated NFTs hosted on the Ethereum blockchain network. The CryptoPunks NFT collection has grown to become one of the leading NFT collections in the NFT market, holding a market capitalization of nearly $1 billion. Several rare Punks from the CryptoPunks collection are worth millions of dollars.
In March 2022, Yuga Labs, the creator of the globally acknowledged Bored Ape Yacht Club NFT collection, acquired the intellectual property of CryptoPunks NFT collection. During the auction, the Bored Ape creator bought the Meebits NFT collection along with the CryptoPunks NFT collection. Meebits is a non-fungible token collection featuring a limited edition of 20,000 3D vowel characters hosted on the Ethereum blockchain network.
Yuga Labs is home to some of the leading NFT collections, including the Mutant Ape Yacht Club, a non-fungible token collection featuring a limited supply of 20,000 NFTs hosted on the Ethereum blockchain network, Otherside, Kodamara, Bored Ape Kennel Club, and Twelvefold. The Bored Ape Yacht creator Yuga Labs also holds intellectual property (IP) for the Moonbird Oddities, Grails, and Emotes NFT collection.
Is Punks IP On Sale?
Early this morning, rumors were circulating on X (formerly Twitter) that Yuga Labs may be in the process of re-selling the intellectual property for the CryptoPunks NFT collection. Crypto Twitter has already shared some of its predictions with potential IP buyers, with some suggesting that the buyers may be NFT enthusiasts who want to retain the CryptoPunks IP rights to preserve the collection’s history.
Reports have emerged that the digital asset firm Yuga Labs might have sold the Punks IP to HiFo Labs, the creator of Nakamogos. Launched in March 2023, Nakamigos is a non-fungible token collection featuring a limited edition of 20,000 NFTs inspired by CryptoPunks’ NFT collection. In the meantime, the Yuga Labs team has yet to release the official communication for the sale of Punks NFT IP.
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