While Yuga Labs has announced some big news for IP ownership this week. According to the team\u2019s Twitter account on August 15th, it has officially handed IP usage rights to all holders of CryptoPunks NFTs. <\/p>\n

In doing so, owners of any CryptoPunk NFTs will be able to exercise the same level of ownership and rights as has been seen with Bored Ape Yacht Club. Allowing this would let their owners unlock new avenues of revenue.<\/p>\n

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While Yuga\u2019s not directly involved in the collaboration between @dt_chain<\/a>, @TiffanyAndCo<\/a> & @alexarnault<\/a>, it\u2019s a great example of the types of things Punks holders will be able to do with the IP licensing agreement, which we intend to release on 8\/15. See \ud83e\uddf5 for license details. https:\/\/t.co\/clS7XyfmT7<\/p>\n
\u2014 CryptoPunks (@cryptopunksnfts) July 31, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n
One such example is through merchandising, along with other already established methods of putting their NFTs to work. Once they\u2019re sold, however, licensing and IP will switch to the new buyer.<\/p>\n
Of course, there are a few snags that come with this news. While these rights are afforded to NFT owners, that is so long as they remain within the remit of Yuga Labs\u2019 terms and conditions. If, however, these NFTs were used in criminal activities or projects that would diminish Yuga\u2019s brand, that cover would cease.<\/p>\n<\/p><\/div><\/div>\n
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James is a passionate content creator, editor and manager with many years of experience in the finance, games and blockchain sectors. A former editor of BlockchainGamer.biz, James now contributes to the site in his expert capacity.<\/p>\n<\/p><\/div>\n<\/div>\n