TL;DR
- CryptoPunks changed hands for the second time in three years; NODE acquired the collection from Yuga Labs for around $20 million.
- NODE plans to open an exhibition space in Palo Alto and will run a full Ethereum node to ensure digital preservation.
- The community welcomed the acquisition, but doubts remain about whether NODE will maintain the current holders’ commercial rights.
CryptoPunks, one of the most iconic collections in the NFT ecosystem, has changed ownership for the second time in three years. The Infinite Node (NODE) foundation, financially backed by Ribbit Capital, acquired the intellectual property of the collection from Yuga Labs for approximately $20 million, according to sources close to the deal. Following the announcement, the collection’s floor price rose from 42 ETH to 47.5 ETH.
NODE is a non-profit organization founded by Micky Malka and Becky Kleiner. Its mission is to preserve, research, and exhibit digital art, placing CryptoPunks at the core of this new approach. The acquisition has revived the debate around the cultural value and integrity of original NFTs, especially after tensions sparked by Yuga Labs’ attempts to expand the CryptoPunks universe with derivative collections that were poorly received by the community.
As part of its plan, NODE will develop a physical exhibition space in Palo Alto, where all 10,000 original CryptoPunks will be displayed. The foundation will also operate a full Ethereum node to guarantee these works remain permanently accessible on the blockchain. Malka explained that their goal is to offer academics, curators, and collectors a controlled, stable environment to study and explore these pieces as native digital art.
Uncertainty Around CryptoPunks’ Commercial Rights
NODE has structured its strategy around three priorities: preserving the collection’s technical integrity, fostering a community of digital creators and collectors, and creating new opportunities to exhibit and analyze CryptoPunks as part of Internet cultural heritage. To support this, the foundation formed an advisory board made up of prominent figures from the NFT industry and market, including original creators Matt Hall and John Watkinson, alongside personalities like Art Blocks founder Erick Calderon.
Despite the overall optimism, uncertainty remains about potential changes to the commercial rights of CryptoPunks holders. Yuga Labs had allowed owners to commercially exploit their NFTs, but so far NODE hasn’t confirmed whether it will continue this policy. Some community members believe the best way to preserve the punk spirit is to restrict any future interventions.
