CryptoPunks NFT Prices Rise 10%

Yuga Labs, creator of the popular NFT collection Bored Ape Yacht Club, has transferred the intellectual property (IP) rights to CryptoPunks, one of its most legendary NFT collections, to the Infinite Node Foundation (NODE).

The decision represents a major step in preserving the legacy of digital art for the future.

While Yuga Labs retains most of the CryptoPunks assets and IP rights, they have chosen not to integrate the collection into their metaverse project, Otherside.

Their focus is now on ensuring that CryptoPunks are recognized as an important part of digital art history.

NODE’s Mission: Preserving and Opening Access to Digital Art

According to information we quoted from Beincrypto media, the Infinite Node Foundation, a non-profit organization engaged in the preservation of digital art, plans to permanently display 10,000 CryptoPunks tokens at their facility in Palo Alto.

The collection will also be presented in an exhibition titled “Infinite Images: The Art of Algorithms” at the Toledo Museum of Art.

NODE President Micky Malka emphasized that CryptoPunks have been a significant driver of cultural movement.

The organization is committed to protecting the work so that it remains relevant in the future, while also making it more accessible to scholars, curators, and collectors.

Impact on NFT Market and Community

The announcement of the handover prompted a 10% increase in the floor price of CryptoPunks, demonstrating the positive response from the market to the preservation effort.

While the overall NFT market has declined since its peak in 2021, the move confirms that the cultural and historical value of CryptoPunks remains valued.

Yuga Labs has previously denied speculation about the sale of the CryptoPunks IP, stating their dedication to the legacy of the collection.

By handing over to NODE, they demonstrate their priority for long-term preservation and public access.

Conclusion: Preserving Digital Heritage for Future Generations

Yuga Labs’ transfer of CryptoPunks to the Infinite Node Foundation is a strategic move to preserve digital art.

By prioritizing preservation and accessibility, this initiative ensures that these iconic collections will continue to be cherished, studied, and celebrated by future generations, while strengthening their cultural value within the NFT ecosystem.