In March this year Yuga Labs announced that it had acquired the intellectual property behind the Cryptopunks and Meebits brands from Larva Labs. At the same time that they acquired the IP they announced that they had decided to give full commercial rights to the NFT holders.
Yuga Labs is the company behind the Bored Ape Yacht Club (BAYC) NFT collection. When they acquired the IP rights to Cryptopunks and Meebits they promised that they were going to release the rights just as they did with BAYC. These three brands command some of the highest NFT values with BAYC’s valued at 69.42 ETH, Cryptopunks valued around 65.5 ETH and Meebits around 3.3 ETH.
Some people, including celebrities, have used their BAYC NFTs for commercial and personal use. Recently Snoop Dogg and Eminem shot their music video for the song “From the D 2 LBC” that was nominated for a VMA, using their NFT avatars.
Now Meebits and Cryptopunks owners have the IP rights to use them for both personal and commercial use. Meebits owners have already been using theirs for commercial purposes, mainly in applications and games, while Cryptopunks were used recently by luxury jewelry retailer, Tiffany & Co to sell pendants.