Shocking news: Yuga Labs sells CryptoPunks IP! Floor Price soared 13% in just 3 hours, sparking heated debate.

Rumors suggest that the well-known Non-fungible Token issuer Yuga Labs is considering selling the intellectual property (IP) of CryptoPunks, and the Floor Price of CryptoPunks surged 14% within just 3 hours after the news broke. Although Yuga Labs has not responded yet, the market reaction has been quite enthusiastic.

Floor Price soared 13%, buyer identity remains a mystery

Azuki, a Non-fungible Token company dedicated to creating an anime universe, announced on Twitter on 1/15 that multiple sources have indicated that Yuga Labs may sell the intellectual property (IP) of CryptoPunks.

Wale.moca's Twitter post on 1/15

As soon as the news came out, the Floor Price of CryptoPunks surged from 36.6 ETH (about 130,000 USD) to 41 ETH, an increase of 13% in just 3 hours.

Wale.moca said that potential buyers are not traditional Web2 companies, nor are they NFT operators like Pudgy Penguins, Azuki, or Doodles. However, Wale.moca did not disclose more details, and the identity of the buyers is still a mystery at present.

Market leadership position may face significant changes

Currently, CryptoPunks sits steadily at the top of the Non-fungible Token market with a total market value of 414,700 ETH (approximately 1.3 billion USD), nearly double the second-place Pudgy Penguins (213,080 ETH). Assuming that the IP of CryptoPunks is indeed sold, it will be a significant turning point in the Non-fungible Token industry, potentially sparking discussions on confidence and values in the industry, especially regarding whether the brand trust and community culture behind CryptoPunks can continue.

CryptoPunks still dominates the leaderboard, with a market value more than twice that of the second-ranked Fat Penguin.

The IP of CryptoPunks is owned by Larva Labs, while Yuga Labs acquired the IP of 423 CryptoPunks Non-fungible Tokens in March 2022 for an undisclosed amount. At that time, the Floor Price of CryptoPunks was 65 ETH, and the current 41 ETH has dropped by about 37%, but due to the 24% increase in Ether (ETH) since 2022, the impact of price changes has been partially offset.

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This article reports that Yuga Labs is selling the CryptoPunks IP! Floor Price skyrocketed by 13% in just 3 hours, sparking heated discussions. This was first reported by Chain News ABMedia.