Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) collection of NFTs, has just acquired the intellectual rights to the CryptoPunks and Meebits series tokens from Larva Labs, the company has reported via Twitter.
As part of the deal, whose financial terms have not been disclosed, the copyrights to the tokens of these collections, as well as 423 CryptoPunks and 1711 Meebits, have been transferred to Yuga Labs.
The company reportedly intends to transfer intellectual, commercial and exclusive licensing rights to individual owners of NFTs. Token holders will "in the near future" receive extended privileges.
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Gordon Goner and Gargamel, the pseudonyms of Yuga Labs co-founders, have said:
"We're not in a rush to do anything but give people full commercial rights, see what they build, and listen."
Similar terms apply to the BAYC collection, which some token holders have already taken advantage of. For example, tea maker Arizona Iced Tea has launched an ad campaign featuring NFTs and Universal Music Group has introduced a musical group made up of "boring monkeys."