Signalclout #45: Yuga Labs Acquires CryptoPunks
The company behind BAYC is making waves by acquiring the OG NFT set
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Welcome to the 45th issue of the Signalclout newsletter.
The big news for the week was the acquisition of the CryptoPunks and Meebits NFT IP by the founding company of Bored Ape Yacht Club (BAYC), Yuga Labs.
Over the last couple of weeks, I have emphasized both the NFT and the DAO market. This acquisition merges both trends into a single transaction with significant implications.
BAYC has leaked documents showing the roadmap of what is coming up. The roadmap includes a metaverse play as well as the $ApeCoin. The coin is interesting as it is linked to the ApeCoin DAO. Essentially decentralizing the brand and making it community-driven.
In this newsletter, I will briefly discuss the merger and my high-level thoughts on how a playbook for NFTs, DAO's and Coins is slowly coming into view.
🏗️ Rebuilding the Company Stack
Last month I reported the news that a16z was looking to invest in Yuga Labs at a reported $5bn valuation.