![]() ![]() Pixel Vault launched the PUNKS Comic during this time, which featured fleshed-out, fully-illustrated versions of the original pixelated Punks. During the massive bull run of the NFT space throughout 2021, plenty of projects launched taking clear inspiration from the OG Punks - to varying degrees of consequence. In previous years, the rights conferred to CryptoPunks owners could be best described as murky at best. Yuga Labs surges ahead despite mixed CryptoPhunk reception Notably, as part of the new IP rights agreement, CryptoPunks holders creating works based on their Punks will then own the IP to these derivative works. Theoretically, any CryptoPunk NFT can now be turned into derivative works, provided that owners agree to sublicensing terms. That’s where the bit on sublicensing comes into play. Should you decide to sell your CryptoPunk but circle back on wanting to make something based on your just-sold NFT, you’d have to come to a licensing agreement with the new owner. Of course, these rights only apply while you own the CryptoPunk in question. But there’s a catch behind the cacophony: You can’t (and really shouldn’t) use your Punks to create hateful, discriminatory content. You can do whatever you want with your new NFT that much is clearly the message. ![]() You read that right: Exclusive, royalty-free, and sublicensable. The new license terms dictate that just like with buying a Bored Ape, purchasing a CryptoPunk grants you, the buyer, the rights to commercialize your new NFT via the creation of derivative works. What Yuga Labs does own, however, is the IP in each user’s CryptoPunk.Īs the owner of this IP, how CryptoPunks are used in derivative works is up to Yuga Labs’ discretion - as is any piece of art or media featuring CryptoPunks-inspired art or characters. So what does owning a CryptoPunk NFT mean now, in the wake of the new IP rights agreements? For one, CryptoPunk NFT owners hold the “exclusive right to hold, sell, transfer, and execute blockchain transactions involving CryptoPunk NFT,” as per the published license terms. But, since Yuga Labs took stewardship of the Punks in March 2022, it’s very likely that the future of the Punks as an IP will take a similar path moving forward. In 2022, we saw Bored Apes “play” at Major League Soccer’s 2022 All-Star Game and feud with hip-hop legends. Many Ape-themed projects have launched since the Apes first hit the scene - and the crypto public consciousness - in March of 2021. With several notable figures in the entertainment industry like Jay-Z, Steve Aoki, and Heidi Klum among the highest-profile CryptoPunks owners, it’s only a matter of time until future projects barrage traditional media with CryptoPunks characters.Īnd, incredibly, precedence for this is already established: Enter Yuga Labs’ other marquee IP: the Bored Ape Yacht Club. CryptoPunks could inspire a new generation The new IP rights agreement will offer IP licenses to all CryptoPunks holders, a move that the CryptoPunks Twitter account hopes will “open the door to endless creativity and possibilities for Punks.,” according to a tweet from the Yuga Labs-owned NFT collection. CryptoPunks, one of the most prominent legacy collections in the NFT space, recently released a new IP rights agreement for its collection. ![]()
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