Yuga Labs Transfers CryptoPunks to Nonprofit Foundation Infinite Node

• Yuga Labs Transfers CryptoPunks to Nonprofit
• Infinite Node Foundation to take care of digital art preservation
• CryptoPunks gain institutional support with a focus on museums

Yuga Labs has announced the transfer of full intellectual property rights for its CryptoPunks NFT collection to the Infinite Node Foundation, a non-profit organization dedicated to preserving digital art. The decision aims to ensure the preservation of CryptoPunks as cultural heritage and facilitate their presence in museums and art institutions worldwide.

“This purchase secures long-term stewardship for CryptoPunks and launches an ambitious museum partnership program to integrate them into leading art institutions around the world,” Yuga Labs said in an official statement.

Created by Larva Labs in 2017, the CryptoPunks series is made up of 10.000 pixelated images and is considered a pioneer in the non-fungible token segment. The avatars became popular as profile pictures on social media and have become icons in cryptocurrency culture.

As part of the agreement, the Infinite Node Foundation will form an advisory board with influential names in the ecosystem: Matt Hall and John Watkinson (founders of Larva Labs), Wylie Aronow (founder of Yuga Labs) and Erick Calderon (creator of Art Blocks). The composition of the group aims to guide the preservation and development of the collection.

Yuga Labs had acquired the intellectual property rights to CryptoPunks and Meebits in March 2022. Earlier this year, the company sold Meebits, reaffirming its focus on the Otherside metaverse project.

In recent months, Yuga Labs has begun to distance itself from the CryptoPunks brand, especially after criticism of the spin-off collection Super Punk World, which was rejected by the community for its visual approach and narrative considered forced.