Infinite Node Foundation Acquires CryptoPunks IP From Yuga Labs

The Infinite Node Foundation, a newly established nonprofit, has acquired the intellectual property (IP) of the influential Ethereum NFT collection CryptoPunks from Yuga Labs, the creator of the Bored Ape Yacht Club. This acquisition marks a significant shift in the stewardship of the 10,000-piece Punks collection, which was first created by Larva Labs in 2017. The Foundation, which previously announced a $25 million grant to support the future of digital art, will now oversee the preservation and expansion of the CryptoPunks collection.

Natalie Stone, the General Manager of CryptoPunks, will transition from Yuga Labs to the Infinite Node Foundation to serve as an advisor. The Foundation's stewardship will focus on three core components: preservation, community, and expansion. This approach aims to ensure the collection's longevity while developing new ways for scholars, curators, and collectors to engage with the pixel profile picture collection.

Micky Malka, the Chair of the Node Foundation, emphasized the cultural significance of CryptoPunks, stating that the Foundation aims to future-proof this landmark work by pairing museum-grade conservation with an evergreen endowment. This acquisition follows the 2022 transfer of the CryptoPunks IP from Larva Labs to Yuga Labs, which also acquired the Meebits companion collection. Yuga Labs sold the Meebits IP earlier this year to a new startup.

Wylie Aronow, the CEO and co-founder of Yuga Labs, expressed his belief that the CryptoPunks collection needed a permanent home built for preservation. He stated that the NODE Foundation is best positioned to protect the Punks legacy. Aronow will join Art Blocks founder Erick Calderon and the original CryptoPunks creators, Matt Hall and John Watkinson of Larva Labs, on an advisory board to help the Infinite Node Foundation achieve its goals.

Hall and Watkinson highlighted that the Punks were created to be truly decentralized and have become a defining example of digital permanence and online network effects. They believe that the NODE Foundation, created to explain and promote these ideas as a new art medium, is the perfect long-term home for the Punks. The Foundation's first move in collaboration with Hall and Watkinson will be to host a major exhibition of the entire collection at its exhibition space in Palo Alto, California.

The acquisition of the CryptoPunks IP by the Infinite Node Foundation signifies a new chapter in the history of this iconic NFT collection. The Foundation's commitment to preservation, community, and expansion ensures that the cultural and artistic significance of CryptoPunks will be maintained and celebrated for years to come. This move underscores the growing importance of nonprofits in the stewardship of digital art and the preservation of cultural heritage in the digital age.