Yuga Labs Releases IP Licensing Agreement for CryptoPunks and Meebits

The long-awaited intellectual property (IP) licensing agreement for CryptoPunks and Meebits non-fungible tokens (NFT) was released by Yuga Labs on Monday. CryptoPunks and Meebits owners have been anticipating the announcement since Yuga Labs first acquired the collections from Larva Labs in March. As part of the agreement, holders will receive exclusive commercialization rights over projects and goods based on their NFTs. The move puts them on par with Bored Ape Yacht Club (BAYC) holders already using IP. Punks, the IP rights agreement for the CryptoPunks collection is now live and can be found at https://t.co/MMIlA0sp5W. This moment is something we’ve promised from day one and we’re looking forward to seeing what the community builds, using the terms as guidance. More details 🧵 — CryptoPunks (@cryptopunksnfts) August 15, 2022 Meebs, the IP licenses agreement for the Meebits collection is now live at https://t.co/A5gssvPrrq. These terms will guide the community's creations, both in the metaverse and real life. More details in the 🧵 below — Meebits (@MeebitsNFTs) August 15, 2022 Yuga Labs – The IP Owner Although Yuga Labs is the IP’s owner, it is licensed to NFT holders. Larva Labs, the company that owns the collections, formerly handled IP licensing differently and retained ownership of the collections’ intellectual property rights. This decision drew criticism and led at least one holder to sell their CryptoPunks in protest...