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Yuga Deal - 🎁 Wrapped: The Weekly Web3 Newsletter

Yuga Deal - 🎁 Wrapped: The Weekly Web3 Newsletter
By Futureproof • Issue #18 • View online
3.15.22
By @DepecheNode_

Yuga Deal
Web3’s iteration on the board room
Web3’s iteration on the board room
The Yuga Labs acquisition of Meebits & CryptoPunks IP is a yuge deal. Let’s break it down.
Pros 
  • Yuga labs immediately released the IP rights to punk owners
  • Yuga has the best track record in the business
  • Larva Labs can’t screw up anything else
Cons
  • Yuga’s acquisition sets a precedent - punks could be sold again…
  • Punks feel less like a collectible/fine art 
  • Yuga is unlikely to prioritize punks/meebits over BAYC (pro for BAYC holders, con for punks) 
  • Previously, punks just needed to exist as the OG pfp collection that inspired a movement…now that they’ve been acquired, any type of roadmap/branding/community building introduces execution risk. 
Considerations
  • Punks & Meebits are not ‘part’ of the BAYC ecosystem. They are a separate business unit under the Yuga Labs umbrella. 
  • Expect other blockbuster deals this year - web2 brands want in, and it wouldn’t surprise me if Yuga made more moves 
  • The Yuga deal is good and bad for the industry. We’ve lost a little bit of that early indy vibe and moved into the corporate powerhouse brand world. More money will flow into the space and push it forward, but the decentralized censorship resistant culture is fading.
Weekly Highlights
  • XCOPY announces PFP project Grifters is now CCO
  • Doodles experience wins big at SXSW 
  • Weekly Winners:  Wicked Craniums .21, Cyberbrokers 3, Meebits 4.7, BAYC 94, BAKC 8, Cryptoadz 2.2, Doodles 13
  • Weekly Losers: Avid Lines 1, Singularity 2.4, Alien Clock 1.5, Vogu .13
DISCLOSURE: I own NFTs. Specifically, punk #2971 if you’d like to dig around. 
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