Nifty News: Yuga Labs buys CryptoPunks, 1inch Wallet supports NFTs and more
This week's Nifty News round up follows a weekend full of Yuga Labs announcements, the start of Austin's SXSW conference and added NFT support for 1inch Wallet users.
Yuga Labs, creator of Bored Ape Yacht Club, or BAYC, announced its acquisition of the Intellectual Property, or IP, of the CryptoPunks and Meebits NFT collections from Larva Labs. By adding these brands to their portfolio, Yuga Labs now owns copyright in the art, along with 423 CryptoPunks and 1711 Meebits.
Some big news to share today: Yuga has acquired the CryptoPunks and Meebits collections from @LarvaLabs, and the first thing we’re doing is giving full commercial rights to the NFT holders. Just like we did for BAYC and MAYC owners. pic.twitter.com/lAIKKvoEDj
CryptoPunks' terms and conditions, unlike BAYC, previously restricted the transfer of IP, copyright or trademark to Punk owners. That's why Yuga Labs decided to give full commercial rights to NFT holders to enable "developers and community creators to incorporate CryptoPunks and Meebits into their Web3 projects."
Matt Hall and John Watkinson, co-founders of Larva Labs, are not joining Yuga and will continue to run projects out of Larva Labs. They stated in a blog post that as the category of Profile Picture Projects, or PFP, grew into an industry in itself, "we saw in [Yuga Labs] the skill set and expertise in this space that we were missing."
The 1inch Network announced that 1inch Wallet users will be able to view their NFTs held in their address and view information on them. This feature is intended to facilitate NFT storage and management, as well as enable users to send NFTs to other wallets.
1inch Wallet integrated the OpenSea API in order to add NFT support. Currently, the NFT support feature is
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