KEY POINTS
Yuga Labs, which acquired CryptoPunks’ non-fungible token (NFTs) collection, in 2022 and has been planning to extend the project, appears to have abandoned its original plans.
CryptoPunks was officially revealed on May 20. details The new NFT series is titled Super Punk World. The series includes over 500 3D hybrid sculptures which challenge the traditional ideas of gender and race.
Nina Abney created these works in honor of the “irreverent, early-internet origins of the CryptoPunks project” On May 29, they were scheduled for auction in a Dutch format.
Artistic vision vs. community expectations
The initial excitement of a new creative direction quickly turned into a critics’ firestorm. They attacked the artwork, the attempts to reinvent an iconic work, and made accusations about being a sexist. “woke” The emphasis placed on gender and race.
Yuga Labs has been criticized by some collectors for trying to add more CryptoPunks figures.
“Punks clearly don’t want this attached to the project,” A user commented on X in response to a post revealing details of the Super Punk World NFT Collection.
“Ok maybe Yuga wasn’t the best steward for this,” Write another with another comment. “There’s still time to delete this and forget it ever happened.” The majority of the more than 2,000 comments received on the article were negative.
Maybe yuga was not the most suitable steward to oversee this
— barthazian.eth 巴特 (@Barthazian) May 20, 2024
Yuga Labs was on a fine line between community expectations and creative vision.
Reorientation of Priorities
Yuga Labs Chief Executive Greg Solano responded to criticism by releasing a statement that outlined the vision of the company. This was done to provide renowned artist Abney with the opportunity to investigate and answer this question. “What does punk mean to you?”
Solano has announced Yuga Labs’ decision to withdraw from CryptoPunks. “Yuga will no longer touch punks. They will just be decentralized and preserved on the blockchain,” He has written.
This new initiative will focus on helping museums and other institutions acquire CryptoPunk NFTs, and informing the public about this collection.
As part of this, Super Punk World NFTs will only be made available to holders of Super Cool World — Abney’s first and main NFT collection.
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Source: blog.cryptoflies.com