CryptoPunks: NFT Price Jumps 13% on IP Rights Sale Rumors
Date: 2025-01-15 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
The minimum price of an NFT from Yuga Labs’ CryptoPunks collection has increased by 13% in three hours following rumors that the company is considering selling the IP rights to the collection.
The rumor was first reported on January 14 by an X post by NFT researcher Azuki, who goes by the pseudonym Wale.moca. He cited “multiple sources close to the situation” but did not disclose who the potential buyer might be. He said it was not a Web2 brand or an existing NFT company like Pudgy Penguins, Azuki, or Doodles.
According to NFT Floor Price, the minimum price of CryptoPunks rose from 36.6 Ether (around $117,800) to 41 ETH (over $130,000) in just a few hours after Wale.moca’s post.
If the rumors are true, the sale of the intellectual property rights to CryptoPunks could be a major event in the NFT industry. The collection remains the most valuable on the market with a market cap of 414,700 ETH (around $1.3 billion), almost double the market cap of the second-largest project Pudgy Penguins, which is 213,080 ETH.
Yuga Labs acquired the rights to 423 CryptoPunks NFTs from Larva Labs in March 2022 for an undisclosed amount. At that time, the collection’s minimum price was around 65 ETH, which is 37% higher than its current level. However, during this time, the ETH price has increased by 24%, reaching the current level of approximately $3,224.
In addition to CryptoPunks, Yuga Labs also owns the popular Bored Ape Yacht Club collection, which is the third-largest NFT by market cap.
Yuga Labs co-founder Greg Solano returned to the position of CEO of the company in February last year, replacing Daniel Allegre. In April, Solano made the difficult decision to lay off employees, explaining the need to focus on the creative development of the company.
