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Yuga Labs has acquired possession of the CryptoPunks wrapper, in response to a latest tweet by the Punks Restoration Challenge. The wrapper was handed over to Yuga Labs, the proprietor of the CryptoPunks mental property (IP) following an acquisition from Larva Labs, as a part of the undertaking’s initiative to revive and enhance the CryptoPunks ecosystem. The transfer is critical given the historical past of the CryptoPunks and their eventual acquisition by Yuga Labs.
As a part of the Punks Restoration Challenge the hand off of the CryptoPunks wrapper from @robi_air and his staff at @arkgallerydao to @yugalabs is now full. Punk holders can use https://t.co/uhJ7R9cP3e because the official residence of the Punk wrapper transferring ahead.
— CryptoPunks (@cryptopunksnfts) April 18, 2023
CryptoPunks have been created by Larva Labs in 2017 as one of many first non-fungible token (NFT) tasks on the Ethereum blockchain. The undertaking consisted of 10,000 distinctive 8-bit characters, every with their very own distinct attributes and traits, similar to hair shade and equipment. The undertaking rapidly gained a cult following, and the characters turned extremely coveted digital collectibles.
In Could 2021, Yuga Labs acquired the CryptoPunks IP from Larva Labs for $69 million in a historic public sale at Christie’s. This acquisition solidified Yuga Labs’ place as one of many main gamers within the NFT house, alongside different notable tasks similar to Board Apes Yacht Membership (BAYC), which Yuga Labs additionally owns.
The Punks Restoration Challenge, which goals to revive and enhance the CryptoPunks ecosystem, has been energetic in donating CryptoPunks to notable museums worldwide. As a part of this initiative, the undertaking not too long ago introduced that the CryptoPunks wrapper has been formally handed over from @Robi_air and the Ark Gallery DAO staff to Yuga Labs.
The wrapper is a crucial part of the CryptoPunks ecosystem, because it allows the wrapping and buying and selling of CryptoPunks on different NFT marketplaces. The official residence for the Punk wrapper has been moved to https://wrapped.cryptopunks.app, the place customers can discover data and sources associated to their CryptoPunks NFTs. In case of any queries, customers can attain out to punks@yugalabs.io, the place Yuga Labs’ devoted staff will present help.
With Yuga Labs being the brand new proprietor of the CryptoPunks wrapper, it’s doubtless that they’ll proceed to reinforce and develop the ecosystem. Yuga Labs has a confirmed observe report of success within the NFT house, and the acquisition of the CryptoPunks IP and wrapper solidifies their place as one of many main gamers within the trade.
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