NFT phenom CryptoPunks was just sold to a nonprofit
Yuga Labs, known as the creator of Bored Ape Yacht Club and other notable NFTs, sold its iconic CryptoPunks to the nonprofit NODE Foundation, which focuses on preserving digital art. The deal details are undisclosed, and a representative declined to comment. Back in April, NODE announced it received a $25 million grant to 'build the future of digital art' from investor Micky Malka and Becky Kleiner. The former is chair of the foundation.
Yuga Labs purchased CryptoPunks back in 2022 from Larva Labs amid the digital token craze that saw NFTs sell for millions of dollars. The highest-priced CryptoPunk NFT sold for nearly $24 million worth of crypto, according to the CryptoPunks website.
The markets have slowed since then, however. Malka said that CryptoPunks 'sparked a cultural movement,' and that NODE will 'future-proof this landmark work,' to make it more accessible for people to engage with.
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