CryptoPunks has changed hands again, now taken over by the NODE Foundation

Recently, the iconic NFT project CryptoPunks has welcomed a new owner. A foundation named Infinite Node (abbreviated as NODE) has acquired this well-known NFT series from its previous holder. Although the specific transaction details have not been disclosed, industry insiders have revealed that the acquisition amount is approximately $20 million. The news immediately triggered a market reaction, with the floor price of CryptoPunks rising from 42 ETH to 47.5 ETH.

CryptoPunks, as a pioneering project in the NFT space, has garnered significant attention since its launch in 2017. It is not only seen as a catalyst for the modern digital art movement but has also achieved a cumulative trading volume of $3.07 billion, placing its creators among today's best-selling artists.

The NODE Foundation is a non-profit organization dedicated to the preservation, research, and exhibition of digital art. The foundation states that this acquisition aims to open up new models for the protection of internet-native culture. NODE plans to develop CryptoPunks through three main pillars: preservation, community building, and expansion. Their goal is to construct a networked architecture that allows digital art like CryptoPunks to thrive in the digital realm while being incorporated into the grand narrative of art history.

To achieve this goal, NODE plans to establish a permanent exhibition hall in Palo Alto to showcase all 10,000 CryptoPunks. The hall will also run an Ethereum full node to enhance the accessibility and permanence of the works. NODE has also formed an advisory committee composed of the CryptoPunks community and well-known figures in the crypto art space to ensure the healthy development of the project.

The CryptoPunks community generally holds a positive attitude towards this acquisition. Many holders believe that this means the CryptoPunks IP has found its "destination," where it can develop and thrive without excessive commercialization. However, there are also concerns about whether NODE will retain the IP usage rights and commercialization licenses previously granted to NFT holders.

Overall, the recent change of ownership of CryptoPunks is seen as an important turning point. It may not only affect the direction of the NFT market but also bring new opportunities and challenges for the position of digital art in the mainstream art world.