Yuga Labs Sells CryptoPunks IP to Infinite Node Foundation for Preservation

Yuga Labs, the Web3 company behind Bored Ape Yacht Club, has sold the intellectual property rights of the CryptoPunks NFT collection to the Infinite Node Foundation. This move, announced by the foundation, marks a significant shift for one of the most iconic NFT collections. Originally created in 2017 by Larva Labs, CryptoPunks consists of 10,000 pixel-art characters that have become synonymous with early digital art culture and the rise of blockchain-based ownership.

The Infinite Node Foundation is a nonprofit focused on the preservation and exhibition of digital art. The foundation plans to expand the legacy of CryptoPunks through preservation, academic study, and physical exhibitions. It will launch a new museum-partnership program and debut a curated show featuring all 10,000 Punks at its upcoming permanent exhibition space in Palo Alto, California. The space will also include a live Ethereum (ETH) node to emphasize the on-chain nature of the works.

“With this acquisition, we’re building an architecture that allows CryptoPunks to be understood and studied as part of both art history and internet culture,” said NODE chair Micky Malka. NODE’s advisory board includes key figures such as Matt Hall and John Watkinson (the creators of CryptoPunks), Yuga Labs co-founder Wylie Aronow, and Art Blocks founder Erick Calderon. The foundation is the first nonprofit to fully acquire the IP of a major internet-native artwork.

Yuga Labs acquired CryptoPunks from Larva Labs in 2022 but had signaled from the start that its goal was long-term preservation, not commercialization. “We always knew Punks needed a permanent home built for preservation,” said Aronow. Despite generating over $377 million in secondary sales in 2024 alone, CryptoPunks have remained largely outside the traditional art world.

This transaction underscores the growing recognition of digital art as a significant cultural artifact. The Infinite Node Foundation's commitment to preservation and academic study suggests a new era for digital art, where its historical and cultural significance is given the same weight as traditional art forms. The inclusion of a live Ethereum node in the exhibition space further emphasizes the importance of blockchain technology in the creation and ownership of digital art.

The advisory board's composition, featuring the original creators of CryptoPunks and key figures in the digital art world, lends credibility to the foundation's mission. Their expertise will be instrumental in guiding the preservation and exhibition efforts, ensuring that CryptoPunks are studied and appreciated for their cultural and historical value. This move also sets a precedent for other digital artworks, highlighting the potential for nonprofits to play a crucial role in their preservation and exhibition.