Quick take:
- Yuga Labs has hired Christie’s brand lead to steward the Cryptopunks project.
- Noah Davis, the man behind Beeple’s $69M NFT will be brand lead for the Punks.
- Davis announced his new position via Twitter on Sunday promising, not to “f*ck with the Punks!”
The Cryptopunks NFT project seems to have lost a bit of glitter since it changed hands from Larva Labs to Yuga Labs. But now, the Bored Ape Yacht Club creator seems set to bring the shine back to one of the most popular NFT collections ever launched.
Yuga Labs has hired Noah Davis, the man behind Beeple’s $69 million NFT success story. Davis has been a Web3 expert and Brand Lead at Christie’s Auction House. However, on Sunday, he announced via Twitter that he is leaving his position to take up a new project at Yuga Labs.
In the Twitter thread, Davis promised the punks that they won’t be following the same path set by the BAYC. Unlike the BAYC, which gives IP rights to the collectors, thus allowing them to use their NFTs however they wish, the Punks project retains IP ownership, restricting what the buyers can do with the acquired NFTs.
Davis reaffirmed that the Punks will continue to be Punks as he takes the lead in the project.
“What does that mean? It means no Punks on lunchboxes or cringe TV shows/shitty movies. It means no arbitrary rushed utility or thoughtless airdrops. It means if you love your Punk(s) because they are what they are (just Punks) then you and I see eye to eye,” he wrote.
The Web3 expert is putting some unsettling fears to rest by guaranteeing fans of the Punks team will continue to rely on the community for guidance.
“The first thing I WILL do is this: if you’re a Punk holder and you care about the legacy/future of the brand I wanna talk 1:1. I’ll be at the Punks Brunch during NFT NYC and will begin scheduling sit-downs immediately. Wherever Punks go, the community will help guide us.”
The Cryptopunks project has been one of the worst-performing in terms of NFT floor price trends among all Yuga Labs projects according to a dashboard prepared by @sealaunch on Dune Analytics.
Since the Ape NFTs creator bought the project, the Punks’ NFT floor price has been on a downward trend bar just one occasion at the end of March when it spiked sharply to above 100 ETH.
Davis’ appointment could signal brighter days for the Punks, given Larva Labs has relatively neglected the project, failing to boost it with partnerships or events.
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