CryptoPunks changes hands again, NODE Foundation takes over to protect the cultural heritage of NFT

The iconic NFT collection CryptoPunks has recently changed hands again. On the evening of May 13, a foundation named Infinite Node (abbreviated as "NODE") acquired this highly sought-after NFT series from its previous owner. Although the specific terms of the transaction have not been disclosed, industry insiders revealed that the acquisition amount is approximately $20 million. The news immediately triggered market reactions, with the floor price of CryptoPunks rapidly rising from 42 ETH to 47.5 ETH.

CryptoPunks, known as the "progenitor of NFTs," has been regarded as a significant driving force in the modern digital art movement since its launch in 2017. It was introduced by a creative technology company in 2017, and due to its unique artistic value and far-reaching impact, it has achieved a cumulative trading volume of over $3.07 billion, placing its creators among the best-selling artists of contemporary times.

The NODE Foundation, which acquired CryptoPunks, is a non-profit organization dedicated to the preservation, research, and exhibition of digital art. NODE aims to elevate the status of internet-native artworks and integrate them into broader cultural and academic discussions. The foundation recently received $25 million in funding to advance its vision for the future of digital art.

NODE indicates that they will carry forward and promote the Punk spirit through three pillars: preservation, community building, and expansion. In terms of preservation, NODE will rely on advanced blockchain infrastructure to ensure the technical integrity and long-term availability of CryptoPunks. Regarding the community, NODE plans to build an active ecosystem that connects digital innovators with art enthusiasts. In terms of expansion, NODE will create new scenarios in which CryptoPunks can serve as examples of technological innovation as well as subjects for research and exhibition of artistic achievements.

To achieve these goals, NODE plans to establish a permanent exhibition hall in Palo Alto to showcase all 10,000 CryptoPunks. The exhibition hall will also run an Ethereum full node to enhance the accessibility and permanence of the collection. NODE has also formed an advisory committee composed of industry experts to ensure the smooth progress of the project.

The CryptoPunks community generally holds a positive attitude towards this acquisition. Many holders believe this is good news, stating that the non-profit nature of NODE may help protect the cultural integrity and brand value of CryptoPunks. However, there are also some voices expressing caution about the future direction. Some lawyers have pointed out that if NODE adopts traditional "cultural protection strategies", it may impose more restrictions on the commercialization and derivative projects of CryptoPunks.

Currently, it is unclear whether NODE will retain the IP usage rights and commercialization licenses previously granted to NFT holders. For the CryptoPunks community, maintaining the original spirit and cultural value of the works may be the most important consideration. As NODE takes over this iconic NFT series, the industry will closely monitor the development trajectory of CryptoPunks under the new ownership.