Monday, February 6, 2023

Everything About The Yuga Labs Punks Legacy Project

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Yuga Labs has announced an exciting new initiative called the Punks Legacy Project that aims to create a cultural shift in how we view NFTs. The project will permanently put CryptoPunks on the walls of some of the world’s best museums and design institutes. To kickstart the Punks Legacy Project, Yuga Labs has donated Punk #305 to the Institute of Contemporary Art Miami.

CryptoPunks NFT Punks Legacy Project
Yuga Labs has announced a new initiative called the Punks Legacy Project.

Yuga Labs introduces the Punks Legacy Project

In March last year, Yuga Labs, the creators of the Bored Ape Yacht Club NFT ecosystem, purchased the rights to Larva Lab’s creations for $3.4 million. This means that Yuga Labs now owns the IP rights to CryptoPunks, and Meebits.

CryptoPunks is one of the most popular and influential NFT projects ever. In fact, the 10,000 pfp characters inspired by Punk culture, electronic music, and the cyberpunk movement helped to revolutionize the concept of NFTs and how people view them.

Punks have become legendary in the NFT world and, importantly, have transcended into the real art world. CryptoPunks have sold for vast amounts at prestigious art auction houses, such as Sotheby’s and Christie’s.

CryptoPunks is contemporary art!

One thing is certain, CryptoPunks and other notable NFT collections/artists have revolutionized crypto art. Furthermore, they have thrust it into a new digital web3 world. Yuga Labs is introducing CryptoPunks to the contemporary art world. Now, the Punk will feature, amongst other works of art, in some of the world’s best galleries.

In a blog post, Noah Davis, the brand lead for CryptoPunks, stated, “We’re honored to announce the Punks Legacy Project, an initiative by Yuga Labs to donate iconic CryptoPunks from our collection to museums around the world.”

Yuga Labs will also help museums display the NFTs in the best way possible. They will also provide NFT education and advice on security. 

image of the Institute of Contemporary Art in Miami.
Yuga Labs is donating Punk #305 to the permanent collection of the Institute of Contemporary Art in Miami.

Punk #305 is heading to the Institute of Contemporary Art Miami

To celebrate the launch of the Punks Legacy Project, Yuga Labs are donating Punk #305 to the permanent collection of the prestigious Institute of Contemporary Art Miami. The museum will unveil the Punk on December 2nd on a permanent display. 

Speaking about the donation, Noah Davis said, “The acquisition of a CryptoPunk by a major art museum affirms the collection’s pioneering role in the rise of crypto art, and we’re thrilled to be working with ICA Miami given Yuga Labs’ deep Miami roots.”

It will undoubtedly be interesting to see how the contemporary art world and visitors react to the crypto art on display.

Recently, CryptoPunks has had somewhat of a renaissance, thanks partly to the ongoing FTX drama. CryptoPunks has regained its crown at the top of the NFT project list, retaking the position from the Bored Ape Yacht Club.

Significantly, Yuga Labs owns the rights to both projects, making it one of the premier web3 companies. In the coming months, they will announce more Punk museum donations via the Punks Legacy Project.

 


All investment/financial opinions expressed by NFTevening.com are not recommendations.

This article is educational material.

As always, make your own research prior to making any kind of investment.



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