NFT phenom CryptoPunks was just sold to a nonprofit

Yuga Labs, the renowned creator behind Bored Ape Yacht Club and other prominent NFTs, has recently finalized the sale of its iconic CryptoPunks collection to the nonprofit NODE Foundation. The specific terms of the transaction remain undisclosed, as a representative chose not to provide further details. Earlier this year, NODE Foundation received a substantial $25 million grant from investor Micky Malka and Becky Kleiner, with Malka serving as the foundation’s chairman, to support their mission of advancing the digital art landscape.

Yuga Labs originally acquired the CryptoPunks collection from Larva Labs in 2022 during the peak of the NFT frenzy, where digital tokens were fetching millions of dollars in transactions. Notably, the highest-priced CryptoPunk NFT was sold for approximately $24 million in cryptocurrency, as reported by the CryptoPunks platform.

Although the market momentum has since subsided, Malka emphasized the cultural impact of CryptoPunks, calling it a catalyst for a significant cultural shift in the art world. NODE Foundation aims to ensure the preservation and accessibility of this groundbreaking work for future generations to appreciate and engage with.