Owners of CryptoPunk and Meebits non-fungible tokens (NFTs) can now create commercial projects and products based on their NFTs.
Yuga Labs first bought the collections from Larva Labs in March, and holders of these NFTS have been awaiting the announcement since then.
The new IP licensing agreement has put these NFT holders on the same level as the IP rights enjoyed by the Bored Ape Yacht Club's holders, as the deal will give them full commercialisation rights to create projects and products based on their NFTs.
Some of the Bored Ape Yacht Club's holders have already used the IP in projects.
For instance, American actor, producer, writer and director Seth Green is launching a show based on his recently-returned Ape. He reclaimed his stolen bored ape avatar NFT by spending over $300,000.
While restauranteur Andy Nguyen also opened Bored Ape-themed restaurant Bored & Hungry in Los Angeles in June 2022.
Although Yuga Labs own the IP, NFT holders can license it.
However, in a...
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