Yuga Labs Denies CryptoPunks Copyright Sale Rumors, NFT Prices Surge

Founder Rebukes Claims, NFT Prices Climb

Greg Solano, a co-founder of Yuga Labs, has openly dismissed growing speculation that the company plans to sell off the intellectual property rights to CryptoPunks. The rumor, first sparked by NFT researcher Wale Moca on X (formerly Twitter), ignited a wave of discussion among collectors and enthusiasts, with Moca claiming multiple sources confirmed the potential IP sale. 

Solano quickly countered, labeling the claims baseless and reaffirming his commitment to the collection’s legacy. His response sought to reassure the CryptoPunks community that their cultural icon wasn’t going anywhere—at least not under terms that might undermine its historical significance or long-term value.

This pushback from Solano coincided with a noticeable jump in market activity for CryptoPunks. The collection’s floor price surged more than 15% within 24 hours, moving from 34 ETH to a high of 40.39 ETH. Trading volume also experienced a pronounced increase, with 28 transactions recorded over the same period—a stark contrast to the typically sluggish activity seen in the broader NFT market. Such movements demonstrate CryptoPunks’ continued status as a key player in the NFT ecosystem, where mere whispers of change can drive significant financial and cultural ripples.

As rumors swirled, industry observers speculated on the potential buyers who might emerge if a sale were to occur. Some conjectured that a group of collectors or a single, highly invested individual—like prominent NFT figure @seedphrase—might step in to ensure the CryptoPunks brand remained intact. The latter’s cryptic social media post only added to the buzz. 

Meanwhile, competitors like Azuki and Pudgy Penguins lagged behind, with base prices far below CryptoPunks’ valuation. Still, the NFT market overall has struggled in 2024’s shifting blockchain landscape, leaving even the most iconic collections grappling with reduced liquidity on Ethereum as Solana gains momentum.

Yuga Labs appears well-aware of the challenges and the responsibilities tied to maintaining CryptoPunks’ stature. The company plans to release a book chronicling the collection’s impact, further cementing its role as a cultural touchstone. Solano’s comments underscore this long-term vision, emphasizing careful curation over short-term financial gains. As the CryptoPunks community digests these developments, it’s clear that Yuga Labs remains steadfast in preserving what many consider the crown jewel of the NFT world.

This article has been refined and enhanced by ChatGPT.