Yuga Labs Sells CryptoPunks to Nonprofit Foundation
Once a dominant force in the NFT space, Yuga Labs has continued selling intellectual property. After previously divesting Meebits, Legends of the Mara, and HV-MTL, the company completed its latest sale.
Yuga Labs sold CryptoPunks to the Infinite Node Foundation, nearly three years after acquiring the rights from Larva Labs in 2022.
Formed in March, the Infinite Node Foundation secured $25 million to pursue its mission. According to NFTNow, the foundation acquired the CryptoPunks collection for approximately $20 million, though a representative declined comment on the valuation.
“This transition isn’t about ownership, but liberation. Freed from corporate friction and limitations, the Punk ethos can now thrive through a decentralized, community-driven future,” declared the foundation in its announcement.
About the Infinite Node Foundation
The foundation’s advisory board includes key figures from the crypto art world: Wylie Aronow (co-founder, Bored Ape Yacht Club), Erick Calderon (Art Blocks founder), and Larva Labs co-founders Matt Hall and John Watkinson. Phil Mohun, previously executive producer of Bright Moments, serves as executive director.
In Palo Alto, California, the foundation will open a 12,000-square-foot “permanent exhibition space” showcasing the entirety of the 10,000-piece CryptoPunks collection.
Context Within the NFT Art Gallery Space
The Infinite Node Foundation will become the latest in a growing landscape of NFT art galleries. Superchief Gallery, established with physical locations in Los Angeles and New York, represents an earlier entrant in this sector.
The foundation’s stated purpose is to “preserve and elevate digital art and onchain culture like the CryptoPunks.” While CryptoPunks will remain the focus, the long-term vision includes broader digital art representation.
Historical Context
CryptoPunks—created in 2017 on Ethereum—often regarded as the most historically significant collection due to their pioneering status and role in establishing the ERC-721 token standard, which underpins most modern NFTs.
Founders Matt Hall and John Watkinson recently emphasized CryptoPunks’ foundational role in shaping the NFT industry.
