The Infinite Node Foundation, a nonprofit dedicated to digital art, has acquired the intellectual property of the CryptoPunks NFT collection from Yuga Labs. This acquisition, announced on May 13, positions NODE as the most well-capitalized nonprofit in the U.S. focused solely on digital art, backed by an additional $25 million endowment. The terms of the deal were not disclosed, but NODE has formed an advisory board including the original artists and representatives from Yuga Labs to manage the CryptoPunks collection. CryptoPunks, known for their algorithmically generated pixel art characters, have a market capitalization of nearly $1.2 billion across 10,000 NFTs and have recorded over $3 billion in sales since their launch in 2017. Yuga Labs, also known for the Bored Ape Yacht Club collection, purchased CryptoPunks in 2022, amalgamating it with other NFT assets. The highest sale of a CryptoPunks NFT reached nearly $24 million in 2022, underscoring their significance in the art world and digital culture.

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