Infinite Node Foundation (NODE), a nonprofit organization dedicated to digital art, has acquired the intellectual property rights of the CryptoPunks NFT collection from Yuga Labs, as announced on May 13, 2025. Along with the IP acquisition, NODE received a $25 million endowment, positioning it as the best-capitalized nonprofit focused solely on digital art in the United States.
The CryptoPunks collection, originally created by Larva Labs in 2017, is considered the most valuable NFT collection, with a market capitalization near $1.2 billion across 10,000 NFTs as of the announcement date. Since launch, CryptoPunks NFTs have generated over $3 billion in sales. The collection’s highest-selling NFT fetched nearly $24 million in 2022.
The newly formed NODE advisory board to oversee CryptoPunks includes the original creators Matt Hall and John Watkinson and a representative from Yuga Labs. NODE intends to build a sustainable framework to ensure CryptoPunks' legacy thrives both as digital art and as part of art history. The foundation plans to permanently exhibit the collection and run a full Ethereum node to preserve it.
The transfer of IP from Yuga Labs, known for the Bored Ape Yacht Club, follows prior acquisitions and divestments, including the Meebits NFT collection. The sale has already sparked an increase in the CryptoPunks floor price, surging over 8% immediately after the deal was publicized, with daily sales rising by 40%. This renewed interest could enhance Ethereum network activity amid ETH's resurgence following its Pectra upgrade.
Yuga Labs’ co-founder Wylie Aronow stated that NODE was chosen as the best custodian to protect and enhance the long-term value of CryptoPunks. This deal allows Yuga Labs to refocus on its core projects. While the financial terms remain undisclosed, the strategic move highlights a shift in digital art stewardship and could have broader implications for the NFT ecosystem and Ethereum blockchain.