BREAKING NEWS: Yuga Labs, The Parent Of The Bored Ape Yacht Club Acquired CryptoPunks And Meebits

The Bored Ape Yacht Club said Q1 would be insane; and today the team certainly delivered.

Yuga Labs, The BAYC’s parent company, acquired the CryptoPunks and Meebits collections from LarvaLabs, according to their social media page.

Following the acquisition, Yuga Labs gave CryptoPunk and Meebit holders full commercial rights—just like BAYC and MAYC holders.

“It’s been amazing to watch the BAYC ecosystem use their rights to collaborate and build awesome shit we never could have dreamed up,” Yuga Labs tweeted following the acquisition. “We can’t wait to see the Cryptopunks and Meebits communities do the same. We’ve long admired CryptoPunks, and the work of the project’s founders, Matt & John. They’ve pushed NFTs and the broader crypto world forward, and we’re honored to carry the brands they’ve built into the future we’re building at Yuga. To be clear: the BAYC ecosystem will remain the center of our universe. We believe that what's good for Punks is good for Apes and the rest of the space. Likewise, what's good for Apes is good for Punks. We want to grow the pie, not fight over slices. We're not in a rush to do anything but give people full commercial rights, see what they build, and listen.

Following the announcement, Larvalabs took to Twitter and explained why they decided to make this deal with Yuga Labs.

“Our specialty has always been the creation of things early in the life of a technology, LarvaLabs tweeted. “It’s been amazing to watch the world of profile picture projects (PFPs) like CryptoPunks and Meebits expand to become an entire industry. These projects now need a steward with a different skill set in order to continue growing, which is why we’re entrusting them to Yuga. We know their team will honor the history of Cryptopunks and Meebits, while guiding them into the larger world they are building. A huge thank you to the punk and meeb communities for joining us on this incredible ride. We’re going to keep running Larva Labs and doing what we do best, and we’re excited to see what Yuga and the punk and meeb communities build together.”

This is a developing story stay tuned for continued coverage!