Cobie attempted to purchase the CryptoPunks intellectual property (IP) from Yuga Labs, but CryptoGarga, a representative of Yuga Labs, stated that it is not for sale. Cobie mentioned that a syndicate of Punk owners, including himself, would buy the IP as a group and essentially keep it dormant. Yuga Labs has been criticized for their handling of the situation, with some suggesting that they would have been better off allowing the creation of a cheaper NFT marketplace rather than spending $20,000,000 on a lawsuit. Additionally, Yuga Labs is attempting to enforce a 6% royalty fee on their holders.
Yuga should sell Cryptopunks to @cobie? ๐โจ
NEW: @cobie CLAIMS TO HAVE ASKED WHETHER @yugalabs WOULD SELL ITS @cryptopunksnfts IP, AND THAT @CryptoGarga SAID NO - "... THINK A SYNDICATE OF PUNK OWNERS INC ME WOULD BUY IT AS A GROUP AND BASICALLY DORMANT IT" https://t.co/V5djoqXvni
NEWS: @cobie tried to purchase the CryptoPunks IP from Yuga Labs but @CryptoGarga said itโs not for sale
The funny thing is that @yugalabs would have been better off just letting me create a cheaper NFT marketplace for their users. Instead they wasted $20,000,000 suing me. Now they are trying to force their holders to pay 6% (๐๐๐) royalties. @CryptoGarga is a retard. https://t.co/6SAMEJCDCR
NEWS: @IGGYAZALEA launched a memecoin 5 hours ago, now trading at $24.5M MC https://t.co/3vxetao1vU