![]() ![]() The company did not respond to a request for comment from The Defiant. Meanwhile, the company signed this summer with the United Talent Agency to represent it and its Punk IP.īut Yuga Labs has also secured representation for the overall Apes brand, and that doesn’t stop individuals from making use of their IP. Larva Labs uses the NFT License for the project. Like CryptoKitties owner Dapper Labs, the CryptoPunks creators, Larva Labs, retain the rights to reproduce CryptoPunks and profit off their imagery commercially. ![]() For example, attendees at Consensus 2018 in New York City brought it up with CryptoKitties staff during the Q&A for a panel about NFTs moderated by this reporter. CryptoKitties, the first mega-buzzy NFT project, has similar terms to CryptoPunks, and there would be flare ups from time to time about holders’ lack of commercial rights. Peets also said this isn’t exactly a new controversy in crypto, it’s just become more fierce now that NFTs are worth real money. The push for NFTs to follow the open rights model, Peets said, reflects the fact that crypto is open source and allows for rapid innovation by copying existing ideas and tweaking it to create something new and in some cases that means challenging previous norms.” Investors are irked by CryptoPunks intellectual property limitations. But he argued that crypto’s NFT community might be nudging the world where it needs to go. Will Peets, chief investment officer of 100 Acre Ventures, a fund focused on the metaverse, remarked on the incongruity between crypto’s take and the traditional one in a text message to The Defiant. It is extremely controversial in the unique digital assets industry, however, and right now the Bored Ape community and partisans of the CryptoPunks dynasty are throwing down over the fact that one gives its owners the right to make use of the underlying material and one just lets them have something to look at. ![]() This is uncontroversial in the traditional art world. If you buy a painting - even a very expensive painting - you have no right to reproduce or otherwise use the image on that painting. “It’s not about copyright vs no copyright, it’s about making the pixels as censorship resistant as the token they’re attached to.” Punk4156 Bored Apes offers a more limited set of rights, only to the holder of the Ape, who can profit from the art and make derivatives. These projects are the most open, with no rights reserved to anyone. The big CC0 projects are CrypToadz, NounsDAO and Vine co-founder Dom Hoffman’s Blitmap. “ has had a few internal conversations on the topic of punks/CCO with a wide range of internal opinions,” Yunt Capital, an early stage venture fund, told The Defiant via direct message. Indeed, it seems like the NFT space is bifurcating into two camps: projects where creators control the IP and Creative Commons projects, or CC0s, as folks are calling them. Two CampsĪaron Lammer, the podcaster turned DeFi specialist at the trading firm Radkl told The Defiant over Twitter DM that this debate fits into an ongoing theme in crypto: “The issue of how to compensate founding teams is always a source of drama, and in the world of NFTs that ends up coming down to rights rather than tokens.” “I love punks, but the copyright issue kind of broke my heart,” he tweeted. He wrote that the IP rights ultimately caused him to turn away. ![]() Punk4156, one of the creators behind NounsDAO, tweeted, “It’s not about copyright vs no copyright, it’s about making the pixels as censorship resistant as the token they’re attached to.” What’s behind the change? Prices are always anyone’s guess, but it seems like part of Crypto Twitter believes it’s because the Ape’s creators, Yuga Labs, conferred something on their holders of true and enduring value: the intellectual property (IP) rights to the underlying artwork of the NFT. Meanwhile, Bored Apes’ floor price was 52 ETH, well up from 30.5 ETH on Nov. The Punks floor sat at 68.69 ETH on Monday, down from 90 ETH on Nov. Worse, the vaunted floor price - which follows the lowest price of the most common NFTs in a set - for both projects looks as though it might converge, with Apes rising and Punks falling. On Monday’s seven day table on, Bored Apes had posted $59.1M in sales versus CryptoPunks $17.5M. Is the Bored Apes Yacht Club coming for CryptoPunks? ![]()
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