Yuga Labs is a blockchain-powered games studio that recently acquired Meebits and CryptoPunks, two of the most popular NFTs in existence. The acquisition has seen Yuga labs grow to over 100 employees and becoming one of the largest game studios on Ethereum.
The “yuga labs owner” is a company that was recently acquired by the NFT Juggernaut. The acquisition includes Meebits and CryptoPunks.
Yuga Labs, the originator of BAYC, has bought the CryptoPunks and Meebits collections, signaling a significant change in the power dynamic of the whole sector as prior owner, Larva Labs, pulls back from the spotlight.
Yuga Labs has been tight-lipped about how much it spent for the No. 1 collection in the NFT sector thus far. According to reports, it got about 400 CryptoPunks and 1,700 Meebits as part of the transaction. As a consequence, Yuga Labs will continue to grow from a small developer to a multibillion-dollar enterprise.
Yuga Labs has provided intellectual and commercialization rights to owners of both collections from the start, paving the path for a new age of derivative material focused on the projects and allowing owners to commercialize their assets in ways never before feasible.
I have some exciting news to share with you today: Yuga has bought @LarvaLabs’ CryptoPunks and Meebits collections, and the first thing we’re doing is providing NFT holders full commercial rights. We accomplished the same thing for BAYC and MAYC owners. pic.twitter.com/lAIKKvoEDj
March 11, 2022 — Yuga Labs (@yugalabs)
What is unknown is how Yuga Labs will recoup their apparently large investment. On the secondary market, neither CryptoPunks nor Meebits get any royalty payments, and there are no plans to alter that. Despite this, there are several indications of a variety of clothing, games, and events using the fantastic assets.
Larva Labs, an NFT pathfinder, stated that Yuga Labs was the best-positioned firm to take the assets to the next level, showing that its professional set-up was prepared to endure the challenges ahead. Larva Labs, on the other hand, will continue to operate independently after the purchase.
The “yuga labs founder” is a crypto-based company that has recently been acquired by the NFT Juggernaut.
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