Rumors of Yuga Labs planning to sell the CryptoPunks intellectual property are greatly exaggerated after the company’s CEO, Garga, took to the timeline to debunk the speculation, sparking a wave of pro-bald copypasta in response.
Things were anything but boring in the Web3 world on Tuesday after NFT insider and Mocaverse advisor Wale tweeted that Yuga Labs might be selling the CryptoPunks IP soon.
Following Wale’s post, the Web3 timeline lit up with speculation. Theories about the mysterious buyer ranged from a DAO of CryptoPunk holders to NFT influencer SeedPhrase. Others joked that Kevin Rose and Ryan Carson might be acquiring the IP.
Hours after Wale’s tweet, Garga responded to the rumors. While he acknowledged receiving offers to purchase the Punks, he emphasized Yuga’s commitment to protecting the collection’s legacy over financial gain.
“A lot of people have approached us, esp last few months doesn’t mean we are doing anything,” Garga tweeted. “Would only ever do a deal if it we felt very confident it would be long term extremely +EV for punks. my biz and life are nfts not going to take a deal for money if I feel like it hurts the legacy of this asset. some punks might think yuga bad but am fine with that, my preternatural ability to eat shit sandwiches and not care what cringe lords think is precisely what makes us a decent steward. whoever owns punks must have an iron stomach and be willing to basically lock the IP up and throw away the key.”
Following Garga’s tweet, Yuga Labs Co-Founder Gordon Goner wrote “so lucky my founder is bald. a haired founder could never exude such strength.”
This kicked off a wave of “Oh captain, my captain” pro-Garga and pro-bald copypasta across the Web3 space.
As the Bored Ape Gazette previously reported, Yuga Labs acquired the CryptoPunks and Meebits collections from LarvaLabs on March 11, 202 and instantly gave CryptoPunk and Meebit holders their full commercial rights—just like BAYC and MAYC holders!
“It’s been amazing to watch the BAYC ecosystem use their rights to collaborate and build awesome shit we never could have dreamed up,” Yuga Labs tweeted following the acquisition. “We can’t wait to see the Cryptopunks and Meebits communities do the same. We’ve long admired CryptoPunks, and the work of the project’s founders, Matt & John. They’ve pushed NFTs and the broader crypto world forward, and we’re honored to carry the brands they’ve built into the future we’re building at Yuga. To be clear: the BAYC ecosystem will remain the center of our universe. We believe that what’s good for Punks is good for Apes and the rest of the space. Likewise, what’s good for Apes is good for Punks. We want to grow the pie, not fight over slices. We’re not in a rush to do anything but give people full commercial rights, see what they build, and listen.”
Since the acquisition, Yuga Labs has launched several initiatives to elevate CryptoPunks. These include the Punks Legacy Project, which has placed CryptoPunks in museums like the Institute of Contemporary Art in Miami, publishing a book titled Free to Claim, collaborating with Avant Arte for high-end Punk prints, and introducing the Punk in Residence program.
The Bored Ape Gazette will continue to follow Yuga Labs and provide updates on how the company advances the CryptoPunks brand. Stay tuned!
Originally posted on The Bored Ape Gazette
