2024

Moonbirds

World

Punk

<p class="is-style-lead">CryptoPunks, backed by the Yuga Labs team, relaunched with a new NFT collection that turned out to be a complete failure.</p> 
<div class="wp-block-rank-math-toc-block" id="rank-math-toc">
 <h2 id="table-of-contents">Table of Contents</h2>
 <nav>
  <ul>
   <li><a href="#the-stupidest-idea-and-the-killers-of-crypto-punks" rel="">The “stupidest idea” and the killers of CryptoPunks</a></li>
   <li><a href="#yuga-labs-will-abandon-the-crypto-punks-brand" rel="">Yuga Labs will abandon the CryptoPunks brand</a></li>
   <li><a href="#crypto-punks-before-yuga-labs-and-purchasing-copyrights" rel="">CryptoPunks before Yuga Labs and purchasing copyrights</a></li>
  </ul>
 </nav>
</div> 
<p>Yuga Labs has created a new collection of non-fungible tokens (<a href="https://crypto.news/tag/NFT/" target="_blank" rel="">NFTs</a>) called Super Punk World, with 500 NFTs as three-dimensional figures that “blur the lines of race and gender.” The idea is to erase the boundaries between race and gender and rethink the essence of virtual and real identity.&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Super Punk World is a 500-piece collection that is as playful as it is profound. For our Punk in Residence collaboration – <a href="https://twitter.com/ninachanel?ref_src=twsrc%5Etfw" target="_blank" rel="">@ninachanel</a> has created hybridized 3D sculptures that blur the lines of race &amp; gender and reflect upon virtual versus real world identities. Read more and… <a href="https://t.co/rWMraMW7Km" target="_blank" rel="">pic.twitter.com/rWMraMW7Km</a></p>— CryptoPunks (@cryptopunksnfts) <a href="https://twitter.com/cryptopunksnfts/status/1792594316172341315?ref_src=twsrc%5Etfw" target="_blank" rel="">May 20, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>This is the first collection created by Yuga Labs under the <a href="https://crypto.news/tag/CryptoPunks/" target="_blank" rel="">CryptoPunks</a> brand. The author of the NFT collection is artist Nina Abney. The digital characters combine her art style and pay homage to early <a href="https://crypto.news/tag/Web3/" target="_blank" rel="">web3</a> projects, particularly CryptoPunks. In addition, they also raise pressing social issues, namely racism and sexism.&nbsp;</p> 
<p>Project co-founder Greg Solano said the team plans to collaborate with world-class artists to merge web3 with the traditional art world.</p> 
<p>An auction was planned to sell tokens from the Super Punk World collection. The highest price would be announced first, and at certain time intervals, the value of the NFT would decrease until the asset was purchased or its price reached a set minimum. However, after criticism from the community, Yuga Labs chose a different path.</p> 
<p> You might also like: <a href="https://crypto.news/yuga-labs-unveils-cryptopunks721-wrapper-to-simplify-nft-trading/" rel=""> Yuga Labs unveils CryptoPunks721 wrapper to simplify NFT trading </a> </p> 
<h2 class="wp-block-heading" id="the-stupidest-idea-and-the-killers-of-crypto-punks">The “stupidest idea” and the killers of CryptoPunks</h2> 
<p>Despite the global goals, the collection was criticized by crypto community members. Some users condemned the art style and concept of an attempt to rethink the cult project CryptoPunks. Others accused Abney of inciting hatred in the community through her work focusing on race and gender.&nbsp;</p> 
<p>One of the users noted that <a href="https://crypto.news/tag/Yuga-Labs/" target="_blank" rel="">Yuga Labs</a> literally “killed” the idea of CryptoPunks.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Go woke, go broke.<br><br>Yuga killed Punks today <br><br>At least they have Moonbirds tho <a href="https://t.co/LKOMu3YdIH" target="_blank" rel="">https://t.co/LKOMu3YdIH</a> <a href="https://t.co/NfUmM1vulb" target="_blank" rel="">pic.twitter.com/NfUmM1vulb</a></p>— MK (@MKSevenn) <a href="https://twitter.com/MKSevenn/status/1792629001271308752?ref_src=twsrc%5Etfw" target="_blank" rel="">May 20, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The developer of <a href="https://crypto.news/tag/Ordinals/" target="_blank" rel="">Ordinals</a> protocol, Leonidas, <a href="https://x.com/LeonidasNFT/status/1792679667805167676" target="_blank" rel="">noted</a> that with the release of the new CryptoPunks collection, Yuga Labs is simply looking to replenish their wallets and follow basic game theory and incentives. In this case, the owners of the original <a href="https://crypto.news/tag/CryptoPunks/" target="_blank" rel="">CryptoPunks</a> collection are to blame for everything.&nbsp;</p> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <p>“Yuga owns nothing. Punks holders are the owners of CryptoPunks. So start acting like it and stop pretending like this random collection has any significance or relationship to CryptoPunks at all.”</p> <cite>Leonidas, Ordinals protocol developer</cite>
</blockquote> 
<p>A collector under the nickname quary.sats <a href="https://x.com/const_quary/status/1792624245979185589" target="_blank" rel="">noted</a> that “blurring the line between genders” is “the stupidest” idea that came to the minds of representatives of the CryptoPunks brand. He advised the team to leave Yuga Labs and move on.</p> 
<h2 class="wp-block-heading" id="yuga-labs-will-abandon-the-crypto-punks-brand">Yuga Labs will abandon the CryptoPunks brand</h2> 
<p>After a barrage of criticism over the new collection, Solano announced that the company would cease any activity around CryptoPunks, leaving the collection as a completely decentralized blockchain project. He also noted that the last step in promoting the project would be popularizing the NTF collection among the audience of several museums.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/CryptoGarga/status/1792694910904136028 
 </div>
</figure> 
<p>The Yuga Labs team decided to distribute the Super Punk World NFTs through an airdrop to those who support Abney’s work. At the same time, Solano emphasized that Yuga Labs “will no longer touch” CryptoPunks.</p> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <p>“What about punks? Yuga will no longer touch punks. They will just be decentralized and preserved on the blockchain. The only thing we intend to do is support a few museums and institutions in their quest to acquire a punk and help educate their audience about them.”</p> <cite>Greg Solano, Yuga Labs co-founder</cite>
</blockquote> 
<p> You might also like: <a href="https://crypto.news/yuga-labs-ceo-announces-layoffs-focusing-on-getting-back-to-roots/" rel=""> Yuga Labs CEO announces layoffs, focusing on ‘getting back to roots’ </a> </p> 
<p>Abney <a href="https://x.com/ninachanel/status/1792723982103236953" target="_blank" rel="">confirmed</a> Yuga’s plans and thanked the project for its support. She also condemned attacks from the crypto community.</p> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <p>“I am absolutely disgusted with some of the racist, sexist, homophobic, transphobic comments the controversy around this project has unearthed. What’s really at the underbelly of this space?”</p> <cite>Nina Abney, NFT artist</cite>
</blockquote> 
<h2 class="wp-block-heading" id="crypto-punks-before-yuga-labs-and-purchasing-copyrights">CryptoPunks before Yuga Labs and purchasing copyrights</h2> 
<p>The CryptoPunks project became one of the first NFT collections to achieve popularity. Its success has inspired many digital artists in their creativity.</p> 
<p>The creator of CryptoPunks was the New York company Larva Labs, founded by developers Matt Hall and John Watkinson. They started working on the project in 2017. CryptoPunks is based on combining art with the power of non-fungible tokens.</p> 
<p>Digital art from the CryptoPunks collection was one of the most expensive. The jump from giving away free items to selling NFTs for big money comes amid the growing popularity of non-fungible tokens.</p> 
<p>In 2022, Yuga Labs announced the acquisition of intellectual property rights to popular NFT collections released by Larva Labs. As with its Bored Ape Yacht Club (<a href="https://crypto.news/tag/Bored-Ape-Yacht-Club/" target="_blank" rel="">BAYC</a>) collection, Yuga Labs has assigned intellectual property and commercial and exclusive licensing rights to NFT owners.&nbsp;</p> 
<p>As part of acquiring the CryptoPunks and Meebits collections, Yuga Labs received ownership rights to 423 CryptoPunks and 1,711 Meebits.</p> 
<p> You might also like: <a href="https://crypto.news/yuga-labs-restructures-nft-prices-grow-whats-next-for-the-market/" rel=""> Yuga Labs restructures, NFT prices grow: what’s next for the market? </a> </p>

CryptoPunks resurrection failed: community accuses Yuga Labs of killing popular NFT collection

Table of Contents

crypto.news

Other articles published on May 30, 2024

Pepe, XRP, and Raboo Stir Buzz: Uncover the Reasons Behind This Week’s Crypto Headlines

MoonBag Presale Thrashes BitBot and Bonk with an Impressive 88% APY

Jack Dorsey-backed Bitcoin mining pool OCEAN opens global hub in El Salvador

Phantom Wallet Introduces Fee-Free $PYUSD Transactions

Blockchain Analytics Firm Nansen Uncovers DBS Bank’s Secret Ethereum Stash

Analysts Are Bullish On Decentraland (MANA), Can It Go Parabolic?

Join our free newsletter for daily crypto updates!