Does Yuga labs own NFT?

The deal gives Yuga Labs the brands, copyright in the art, and other IP rights for both collections. The company also received 423 CryptoPunks and 1711 Meebits in the package. With this acquisition, the company effectively owns the two largest NFT collections on the planet.

Is Yuga Labs buying cryptopunks and meebits?

The company acquired the IP rights to the NFT collections in mid-March 2022, and owners can use their NFTs for commercial or personal purposes. On March 12, 2022, Bitcoin.com News reported on the Cryptopunks and Meebits non-fungible token (NFT) collections being acquired by Yuga Labs.

Who is Yuga labs?

Yuga Labs is shaping the future of web3 through storytelling, experiences, and community. Founded by four friends, the company began as a text message — "Let's make a NFT". The company’s flagship collection, Bored Ape Yacht Club (BAYC), launched in April 2021, with each NFT doubling as a membership to the community.

What is the difference between bayc and Yuga labs' new licenses?

“While the BAYC license is unclear and potentially misleading, newer licenses from Yuga Labs including the new Cryptopunks and Meebits licenses are significantly more professional and explicit in the ownership and license terms,” Galaxy Digital’s researchers detail in Friday’s blog post.