Bored Ape NFT Creator Yuga Labs Ends Engagement with Cryptopunks
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Bored Ape NFT Creator Yuga Labs Ends Engagement with Cryptopunks
Yuga Labs, creator of the popular Bored Ape Yacht Club NFT, is stepping back from its involvement with Cryptopunks, another popular NFT collection well-known in the cryptocurrency industry.
The company acquired Cryptopunks in 2022 with the intention of preserving its legacy. This collection quickly became one of the most iconic and influential profile photo (PFP) series in the NFT space.
Yuga Labs has become so popular among collectors that it has even managed to have its cryptopunks displayed in museums. But after two years of managing the project, the company was ready to give up.
In a lengthy post on
Yuga Labs Releases New Version of Cryptopunks
The move comes less than 24 hours after Yuga Labs unveiled its latest iteration of punk, called Super Punk World, on May 20. NFT was created by popular artist Nina Chanel Abney.
Super Punk World is a 500-piece collection that is both profound and playful. For the Punk in Residence collaboration – @ninachanel We created hybrid 3D sculptures that blur the boundaries of race and gender and reflect identities in virtual and real worlds. Read more… pic.twitter.com/rWMraMW7Km
— CryptoPunks (@cryptopunksnfts) May 20, 2024
The new NFT, which contains only 500 works of art, was part of Yuga Labs’ attempt to integrate Cryptopunks into the world of art outside of blockchain by allowing famous artists to create new works using the Cryptopunks brand.
This is a movement to connect the Web3 ecosystem and the traditional art world by collaborating with world-class artists. Abney was the first artist to sign up for the collaboration, creating Super Punk World with the official Punks stamp. However, this move was not well received among the punk community and collectors.
Some collectors have argued that Avatar is different from the original punk look, criticizing the art as “woke” for its purpose of celebrating diversity and challenging traditional ideas of identity.
Yuga Labs airdrops NFTs to Abney fans
In light of these developments, Yuga Labs is abandoning all future plans for the collection and wants to move away from Punks entirely.
However, the company still plans to help museums acquire NFTs and educate collectors about them.
Garga.eth wrote to
For the Super Cool World NFT, the company plans to distribute works to fans of Abney’s work via airdrop. Yuga Labs is considering a plan to randomly select users for airdrops.
The artist, known for popular works including works exhibited at MoMA and the Whitney Museum of American Art, was previously appointed to participate in the Punk in Residence program.
This initiative was created to foster on-chain collaboration that encourages creative experimentation within NFT projects and the wider sector.next
Bored Ape NFT Creator Yuga Labs Ends Engagement with Cryptopunks
Source: https://www.coinspeaker.com/bored-ape-nft-creator-yuga-labs-cryptopunks/
