Mar 15, 2022

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

The Yuga Labs acquisition of Meebits & CryptoPunks IP is a yuge deal. Let’s break it down.

Pros

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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By Futureproof

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