CryptoPunks, a globally recognized non-fungible token (NFT) collection, has experienced a dramatic spike in trading volume following rumors that Yuga Labs may sell its intellectual property (IP). Sales volume skyrocketed over 500% to $3 million, making CryptoPunks the top-selling NFT collection worldwide.
CryptoPunks NFT Sales Volume Jumps 570% in 24 Hours
According to cryptoslam.io, the CryptoPunks NFT collection recorded a trading volume of $3.04 million in the past 24 hours—a 570% increase from the previous day.
Launched in 2017 by Larva Labs, CryptoPunks features 10,000 unique pixelated NFTs on the Ethereum blockchain. With a market cap nearing $1 billion, it remains one of the most prestigious NFT collections, with rare Punks fetching millions.
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In March 2022, Yuga Labs—creator of Bored Ape Yacht Club—acquired CryptoPunks’ IP alongside the Meebits NFT collection. Yuga Labs also holds IP for:
- Mutant Ape Yacht Club
- Otherside
- Twelvefold
- Moonbird Oddities
Is Yuga Labs Selling CryptoPunks’ IP?
Speculation erupted on X (formerly Twitter) that Yuga Labs may offload CryptoPunks’ IP, with potential buyers including HiFo Labs (creators of Nakamigos). Though unconfirmed, the rumor has fueled market activity.
"Rumor has it that the CryptoPunks IP has changed hands again, with the acquiring party being Hifo Labs."
— @DabbersDelights
FAQs
Q: Why did CryptoPunks’ sales volume surge?
A: Rumors of an IP sale sparked renewed interest, driving a 500%+ spike in trading activity.
Q: Who currently owns CryptoPunks’ IP?
A: Yuga Labs acquired it in 2022, but rumors suggest HiFo Labs may be the new buyer.
Q: What makes CryptoPunks valuable?
A: Scarcity (10,000 NFTs), historical significance, and high-profile ownership contribute to its premium valuation.
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