The CryptoPunks NFTs are being sold to a non-profit as their value continues to fall

It would seem that the money-making days for CryptoPunks, one of the oldest and most valuable NFT brands, are well and truly over. After acquiring the non-fungible token collection from Larva Labs in 2022, Bored Ape Yacht Club creator Yuga Labs is now selling CryptoPunks to Infinite Node Foundation — a non-profit focused on preserving digital art. CryptoPunks, alongside brands like Bored Ape Yacht Club and CryptoKitties, is frequently credited for kicking off the NFT craze in 2021. Several tokens have been sold for millions, including one in 2022 that was purchased for more than $23 million worth of Ethereum cryptocurrency, but the sales charts have largely stagnated since. Details for the purchase are slim. CryptoPunks general manager Natalie Stone told The Verge that the terms of the deal won’t be disclosed, and that the brand will be stewarded by the Node Foundation, with no plans to integrate the CryptoPunks token collection into the gamified Otherside metaverse that Yuga Labs is ... Read full article.