The team behind the Bored Ape Yacht Club acquires CryptoPunks and Meebits NFTs

Yuga Labs, the team behind the Bored Ape Yacht Club NFT collection, has bought CryptoPunks and Meebits from developer Larva Labs.

Yuga Labs, the team behind Bored Ape Yacht Club NFT acquires CryptoPunks and Meebits and gives commercial rights to the community
CryptoPunks NFTs

On March 11, Yuga Labs and Larva Labs announced the news, saying they are excited that they have acquired the IP of the CryptoPunks and Meebits NFT collections from Larva Labs.

According to Yuga Labs' blog post, the team notes that they now hold the brands, copyright in the art, and other IP rights for both collections, as well as 423 CryptoPunks and 1711 Meebits.

"As well as a number of our favorite Punks and Meebs," Larva Labs claims it will keep the rights to its other huge NFT collection, Autoglyphs.

Note that the most valuable NFT collection in crypto is the Bored Ape Yacht Club (BAYC), followed by CryptoPunks.

Aside from the purchase, Yuga Labs also aims to give all CryptoPunk and Meebit images' commercial rights to their respective owners.

Although Yuga Labs controls the Bored Ape Yacht Club, any token holder can monetize their individual ape.

Holders have taken this concept and used it to create their own NFT collections based on certain apes, as well as to sign their apes to major record labels.

In February, it was reported that the company was in talks with Andreessen Horowitz, a venture capital firm, regarding a $5 billion investment.