Cryptocurrencies

Greg Solano, CEO of Yuga Labs, announced that the NFT company…

Greg Solano, CEO of Yuga Labs, announced that the non-fungible token (NFT) company will “no longer touch” the CryptoPunks project following community backlash from the new Super Punk World project.

On May 20, the official CryptoPunks account was opened Announce A new NFT collection called Super Punk World. The collection included 500 pieces of hybrid 3D sculptures, which they described as blurring the lines of race and gender.

These pieces were created by New York-based illustrator Nina Abney and are intended to pay homage to the “irreverent early internet roots of the CryptoPunks project.”

Despite its goals, the group has received criticism from various members of the cryptocurrency community for being “woke.” Member of the community He said Yuga Labs killed CryptoPunks with this move. “Go wake up, break. He killed yoga punk today.”

At the same time, as another individual He threatened To sell the CryptoPunk NFT, an influencer with a pseudonym named Greg He asked sarcastically If the account has been hacked. Plus, a disgruntled NFT merchant urge Community to ban Yuga Labs and move forward.

source: Cremo spices

In response to the backlash, Solano posted a statement on X explaining that the team envisions collaborating with international artists like Abney to connect Web3 to the traditional art world.

The Yuga Labs CEO also shared that they plan to bring Abney’s collection to those who already support her work in this area. This means it may be airdropped for SuperCoolWorld holders.

Regarding the CryptoPunks group, the CEO of Yuga Labs said that they will not touch it anymore. Solano wrote:

“What about the bad guys? You will no longer touch evil yoga. It will just be decentralized and maintained in the blockchain.”

The CEO stated that Yuga aims to support museums and institutions in acquiring CryptoPunk NFTs and educating their audiences about the collection.

Related: The “lost” Yuga Labs is being restructured again, with layoffs, and a new CEO

Despite the decline in NFT trading volumes, the CryptoPunks group saw a rebound in March when two transactions broke NFT group sales records.

On March 4, rare alien CryptoPunk earned the second-highest sale price ever for punk music when it sold for 4,500 ether (ETH), worth around $16 million at the time of the transaction.

However, the record was quickly broken on March 20, when another piece of CryptoPunk was sold for 4,850 Ethereum, worth about $16.4 million at the time of the sale.

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