CryptoPunks Floor Price Hits 40 ETH as Solano Refutes Sale Talks | Airdrop Alert Pro

Yuga Labs co-founder Greg Solano has publicly denied rumors that the company plans to sell the rights to its iconic CryptoPunks series.

This speculation originated from NFT researcher Wale Moca and caused considerable controversy in the Web3 community.

CryptoPunks co-founder thwarts IP sale rumors

Wale Moca shared the rumor on

“After hearing from multiple sources with knowledge of the matter, I now feel confident enough to share that Yuga Labs may be selling the CryptoPunks IP,” Wale Moca wrote.

In response, Greg Solano quickly cleared up the rumors to X . “Nothing,” he release Responding to Moca’s claims after NFT trader ask to get an explanation on this matter.

“A lot of people have come to us, especially in the last few months. Doesn’t mean we’re doing anything. Only when we’re extremely confident that this is a long-term, extremely +EV deal for Punk, we That would make a deal happen. I work and live with NFTs and I would not accept a monetary transaction if I felt it would harm the legacy of this asset.” Detailed farther.

this Cryptopunk SeriesWidely recognized for its historical significance, it has always fascinated people as a symbol of NFT culture. digital art Community. March 2022, Yuga Labs acquires CryptoPunks intellectual property (IP) from Larva Labsconsolidating its leadership position in the NFT field.

Despite Solano’s denials, this rumor alone was enough to drive a surge in market activity at CryptoPunks. The collection’s floor price surged by more than 15%, climbing from 34 ETH to a monthly high of 40.39 ETH. Trading activity has also surged, with 28 transactions recorded in the past 24 hours – a significant increase in an otherwise sluggish NFT market.

CryptoPunks’ influence in the NFT field

Speculation about potential buyers added fuel to the fire. Moka proposed two possible scenarios: Either the buyer aims to keep the collection intact to protect its cultural and historical value, or a group of collectors could join forces to jointly own the intellectual property.

“Who is the buyer? All I know is that it’s not a major Web2 brand, nor is it another of the existing large NFT companies (Pudgy Penguins/Azuki/Doodles). As far as I know the potential new owners have plans Keep that intellectual property intact,” Wale Moca added.

One prominent name that has emerged as a potential buyer is @seedphrase, a prominent NFT collector known for CryptoPunk #8348, which was used as collateral for a record-breaking $2.75 million USDC loan. @seedphrase mysterious tweets“CryptoPunks❤” only fueled speculation.

Despite this, CryptoPunks remains the undisputed leader of the NFT market, with a total valuation of $1.3 billion. Its closest competitors such as Azuki and Chunky Penguinfar behind, which has a base price of 23.7 ETH.

However, the bull market in 2024 is not particularly good for NFTs because Attention has shifted to other blockchain areas. also, NFT activity increasingly moves to Solanamaking Ethereum collectibles more valuable but less liquid.

Nonetheless, the rumors and subsequent price surge reflect CryptoPunks’ enduring importance in the NFT ecosystem. As the first large-scale generative art project, it continues to command respect and attention as both a financial asset and a cultural icon. Solano stressed the need for careful management.

“The guy who owns Punks has to have a stomach of iron and be willing to basically lock down the IP and throw away the key,” he said.

Against this backdrop, and to preserve its legacy, Yuga Labs is preparing publish a book Dedicated to Cryptopunk. The book, which will be released in New York on January 30, 2025, aims to document the collection’s impact and cement its place in art history.

For now, the CryptoPunks community can rest assured that Yuga Labs has no immediate plans to relinquish control. However, as Solano’s comments indicate, any future decisions will prioritize the long-term value and legacy of this groundbreaking NFT series.