CryptoPunks: Yuga Labs Not Directly Involved in CryptoPunks' Partnership with Tiffany & Co.

CryptoPunks tweeted that Tiffany & Co.'s launch of custom designed pendants for CryptoPunks holders is a good example of Punks holders working with brands through IP licensing agreements. Yuga Labs, its parent company, is not directly involved in the partnership. In addition, CryptoPunks says the community will be able to use the Punks they own to create myriad kinds of content and derivatives, but Punks can't be used for unlawful purposes or for hate speech. NFT and IP rights are tied together, and all Punk IP rights will travel from owner to owner, but former owners may continue to use and profit from what they have already created and published. However, Yuga Labs reserves the right to make changes when sharing the finalized license.