Yuga Labs | BAYC Creators Just Bought Two More Mega-NFT Brands
Money2 Minutes Read

Yuga Labs | BAYC Creators Just Bought Two More Mega-NFT Brands

March 29, 2022 Share

One of the most valuable brands in NFT history, Yuga Labs now controls CryptoPunks and Meebits.

Dozens of these NFT (non-fungible tokens) projects have popped up in recent months, typically themed around a single creature. There are penguins, aliens, and robots; lions, tigers, and bears; plus many cats — Gutter Cats, MoonCats, Mad Cats, Punk Cats, Stoner Cats, and BlazedCats.

The giant animal seen in people’s new profile pictures is apes. New Yorkers have noticed an “increasing number of accounts are changing their avatars to cartoons of apes: apes sporting sunglasses or bunny ears, apes with leopard-patterned or rainbow fur, apes smoking cigars or shooting laser beams from their eyes.” 

Yuga Labs
Illustration by Alex Castro / The Verge

We all know by now that these are BAYC, aka The Bored Ape Yacht club.

The Bored Ape Yacht Club collection is a unique NFT collection of over 10,000 different NFT avatars that live on the Ethereum blockchain. Created by Yuga Clubs, each has specific unique traits that hang over the original image of an ape looking bored. 

But would you believe that Yuga Labs is valued at $4 billion? Well, it’s true, and the mega-company is not stopping there.

In a significant move, Yuga Labs said it is “giving full commercial rights to the NFT holders”, company said in a tweet.

Yuga Labs

The startup is also fresh off the launch of ApeCoin, which the startup’s founders and executives have a substantial stake in. 

The token gathered a multibillion-dollar market cap on its first day of trading. 

Yuga Labs
Yuga Labs purchases CryptoPunks and Meebits and grants the community commercial rights.

This deal will enable CryptoPunks and Meebits owners to create artwork and products based on their NFTs the same way BAYC owners have.

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Author: Michelle Laver
Gutter Cats
Mad Cats
non fungible tokens
Punk Cats