Yuga Labs bought the brands, copyright in the art, and other IP rights of the collections from Larva Labs, in a deal which also saw them acquire 400 CryptoPunks and 1,700 Meebits (with the sale price undisclosed).
Through the acquisition, Yuga Labs now hopes to cultivate a ‘community of builders’ which create derivative works around the projects. To do so, they wish to grant IP and commercialisation rights to such NFT owners in a similar manner to which they grant to Bored Ape owners.
In addition, Yuga Labs will continue the no-royalties model which Larva Labs integrated into both projects, and they also do not plan to repeat Bored Ape’s ‘membership club’ model with both projects. For now, any other future plans for CryptoPunks and Meebits are being kept under wraps.
Larva Labs has announced that it will continue to operate independently and work on new projects (which we can assume will be aided by the new influx of cash).