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NFT News: Creator of Bored Ape Yacht Club Buys CryptoPunks

Jeff Pratt breaks down Yuga Labs purchasing the rights to CryptoPunks and Meebits.

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Creator of Bored Ape Yacht Club Buys CryptoPunks

From rivals to teammates.

On Friday, Yuga Labs — creator of the NFT collection Bored Ape Yacht Club — shocked the metaverse by purchasing the rights to their biggest competitor, CryptoPunks. The two top NFT collections have combined for over 1 million ETH in total volume traded, which is equivalent to approximately $2,538,050,000 USD.

Yuga Labs also acquired the rights to Meebits — a collection which was also created by Larva Labs — in the deal. By doing so, BAYC’s creator has officially emerged as the clear leader in the NFT industry.

Yuga Labs also acquired more than 400 CryptoPunks and 1,700 Meebits from Larva Labs in the deal, with no official sale price revealed. Larva Labs will now shift its attention to new projects in hopes of hitting the NFT jackpot once again.

As for Yuga Labs, with BAYC and CryptoPunks now at their disposal, there may be no limit to what the company can accomplish in the metaverse.

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