Yuga Labs Sells CryptoPunks IP to Infinite Node Foundation

CryptoPunks, the flagship non-fungible token (NFT) profile picture collection made by Larva Labs, is being sold yet again. This time ownership will be transferred to The Infinite Node Foundation, which announced the news in an X post today, May 13. Larva Labs, the company that created CryptoPunks in 2017, is set to serve on the foundation’s board.

The collection was sold by its creator, Larva Labs, to Yuga Labs, the creator of another popular NFT collection, Bored Ape Yacht Club, in March 2022. Since then, many CryptoPunk holders have cried for a separation from Yuga, citing concerns such as execution risk, and voicing their desire for Punks to just be Punks.

In January, rumors emerged that Yuga was gearing up to sell the collection’s IP to a group of investors. While nothing emerged from the deal, the rumor mill sent Punks up 10% above the 40 ETH mark.

The price for the sale has not been disclosed yet. The Infinite Node Foundation was formed in 2025 by Micky Malka, the founder of Ribbit Capital, and Becky Kleiner, and the foundation received a $25 million founding grant in April to “build a new cultural institution for digital art”. The funds are expected to go towards a 12,000 square foot physical space, and potentially other art acquisitions, but that has not been specified.

Punks have picked up slightly on the news, and are now trading at 47 ETH, or $120,000 per NFT, and four Punks worth a combined $490,000 have sold since the news was released. Just last week, the NFT collection’s floor price climbed back into the six-figure range as the price of ETH rallied.

Following the news of the acquisition, Larva Labs, posted on X for the first time in 2025 and said “The CryptoPunks are completely and truly decentralized, created outside the bounds of traditional company or even artist control. Because of this, the Punks’ impact and reach come from a new series of online network effects among its creators, owners, and fans.”

The post continued, sharing that Larva Labs will be indirectly involved in CryptoPunks again for the first time in three years: “We're delighted to be joining the board of NODE and will be working directly to assist on a number of upcoming projects to properly showcase what makes the Punks so unique.”