Nifty News: Yuga Labs buys CryptoPunks, 1inch Wallet supports NFTs and more

BAYC to give full commercial rights to CryptoPunks and Meebits holders and 1inch Wallet users can now gaze admiringly at their own NFTs.
Ornella Hernández
Posted by Ornella Hernández March 17, 2022 3 Mins Read
BAYC to give full commercial rights to CryptoPunks and Meebits holders and 1inch Wallet users can now gaze admiringly at their own NFTs.

This week's Nifty News round up follows a weekend full of Yuga Labs announcements, the start of Austin's SXSW conference and added NFT support for 1inch Wallet users.

Yuga Labs acquires CryptoPunks and Meebits

Yuga Labs, creator of Bored Ape Yacht Club, or BAYC, announced its acquisition of the Intellectual Property, or IP, of the CryptoPunks and Meebits NFT collections from Larva Labs. By adding these brands to their portfolio, Yuga Labs now owns copyright in the art, along with 423 CryptoPunks and 1711 Meebits.

CryptoPunks' terms and conditions, unlike BAYC, previously restricted the transfer of IP, copyright or trademark to Punk owners. That's why Yuga Labs decided to give full commercial rights to NFT holders to enable "developers and community creators to incorporate CryptoPunks and Meebits into their Web3 projects."

Matt Hall and John Watkinson, co-founders of Larva Labs, are not joining Yuga and will continue to run projects out of Larva Labs. They stated in a blog post that as the category of Profile Picture Projects, or PFP, grew into an industry in itself, "we saw in [Yuga Labs] the skill set and expertise in this space that we were missing."

NFT support added to the 1inch Wallet

The 1inch Network announced that 1inch Wallet users will be able to view their NFTs held in their address and view information on them. This feature is intended to facilitate NFT storage and management, as well as enable users to send NFTs to other wallets.

1inch Wallet integrated the OpenSea API in order to add NFT support. Currently, the NFT support feature is available on the Ethereum and Polygon networks and will reportedly expand to other chains "soon."

San Antonio Spurs auction basketball plays

The San Antonio Spurs released the “1,336 Coach Pop NFT Collection” to honor head coach Gregg Popovich's, AKA Coach Pop, 1,336 career wins. The NBA team has won five NBA Championships and Coach Pop broke the record for winning the most games of any coach in NBA history. The collection features digital recreations of Popovich’s hand-drawn plays. 100% of all proceeds will go to the San Antonio Food Bank, as per the coach's request.

The Spurs' longtime assistant coach, Brett Brown, originally had the idea to commemorate the NBA’s winningest head coach via an NFT auction. Out of the 1336 total pieces, five of which are 1:1 auctions that include the physical play card and a Spurs experience next season for the winner. The other 1331 NFTs are a combination of the five play cards and five courts that the Spurs have played on during coach pop’s tenure.

Other Nifty News

On Wednesday, Coinbase launched a new feature, dubbed "Coinbase Pay," that enables its clients to fund their Coinbase Wallets directly from a Chrome browser extension. According to its staff, Coinbase Pay intends to make it intuitive for anyone to participate in decentralized finance, or DeFi, swap tokens on decentralized exchanges, or DEXs, and purchase nonfungible tokens, or NFTs, in just a few clicks.

The annual South by Southwest, or SXSW, conference kicked off this past weekend with "NFTs everywhere." Companies from Doodles to Porsche offered NFT-themed installations to the thousands of attendees in Austin, Texas. SXSW had been cancelled for the past two years due to the COVID-19 pandemic.   

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