2025-05-14
CryptoPunks is one of the earliest and the most famous NFT collections on the Ethereum blockchain, created by Larva Labs, Canadian developers Matt Hall and John Watkinson-in June 2017.
CryptoPunks comprises 10,000 unique, algorithmically generated pixel art characters.
CryptoPunks were among the first NFTs
to demonstrate digital ownership on the blockchain and helped inspire the
ERC-721 standard, which is now widely used for NFTs.
Unlike many NFTs, CryptoPunks’ data and
images are stored fully on-chain on Ethereum, ensuring their permanence and
authenticity.
Yuga Labs has sold the intellectual property (IP) rights of the iconic CryptoPunks NFT collection to the Infinite Node Foundation (NODE), a nonprofit organization dedicated to preserving digital art. NODE said in a May 13 announcement.
The transaction, reportedly valued at the
range of $20 million according to nft now, this marks an important shift in the
stewardship of one of the most influential NFT projects.
Yuga Labs acquired the collection in
2022, aiming to honor its cultural significance. It was also never clear how
much Yuga Labs spent to acquire CryptoPunks in its heyday.
However, recognizing the need for
long-term preservation, Yuga Labs decided to transfer the IP to NODE, which
plans to focus on conservation, community engagement, and expansion of the
collection's legacy.
NODE intends to showcase the entire
CryptoPunks collection at its upcoming permanent exhibition space in Palo Alto,
California.
The foundation will also collaborate
with major art institutions to integrate CryptoPunks into the broader
art-historical canon. An advisory board, including original creators Matt Hall
and John Watkinson, Yuga Labs co-founder Wylie Aronow, and Art Blocks founder
Erick Calderon, will guide NODE's efforts.
