Yuga Labs, the creator of Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC), has acquired the CryptoPunks and Meebits non-fungible token (NFT) collections. It has announced plans to bring additional utility to both collections.
Bringing additional utility
Yuga Labs will grant commercial rights to people who hold coins from the CryptoPunks and Meebits collections. It will do this in the same way it did with the BAYC and MAYC collections. This means that NFT collectors can monetize their digital assets as they wish.
This new information released by the company is significant, especially when there is a lot of ink and spit surrounding the issue of NFT monetization. For all that, Yuga Labs wants to be reassuring, saying, “While we will work to bring additional utility to the CryptoPunks and Meebits collections, we intend to do so as thoughtful stewards. We are in no rush. We will listen to the community before deciding what to do next.
NFTs that interest the community
Since the year 2021, digital collectibles have generated a huge amount of excitement among the investment community. According to a recent report, NFT sales increased 21,000% last year compared to 2020, with 2.5 million cryptocurrency wallets involved in trading or holding a token.
Among those numbers, one of the biggest sales in NFT history goes to Chain CEO Deepak Thalipal, who bought a rare alien avatar from the CryptoPunk collection for $23.7 million last month. This is the fourth most expensive NFT sale in history.
Meebits also managed to sell its most expensive NFT for 1,000 ETH, or $2.1 million. The transaction took place in July of last year.
“Our vision has always been to build a community-owned brand that extends far beyond NFTs, and now we have the opportunity to bring CryptoPunks and Meebits with us,”the Yuga Labs announcement reads.
Larva Labs made a statement that delighted NFT investors. It announced that it will launch a system that will allow its customers to sell non-fungible tokens (NFTs) for the purpose of collecting money. However, this will happen over time, not all at once!