CryptoPunks and Meebits NFT owners can now use their characters for personal or commercial projects.
According to an e-mail statement on Monday, the company responsible for the Bored Ape Yacht Club, Yuga Labs, relinquished the intellectual property rights for the Meebits and CryptoPunks collections it had purchased earlier this year.
Novice cryptocurrency observers often question about the value of NFTs. Now that owners of CryptoPunks and Meebits NFTs are able to find more utilities for their JPEGs besides just using them as profile pictures, it seems like this answers that very question.
Much like the Bored Ape Yacht Club (BAYC) community, NFT holders might be able to create projects revolving around their characters including “TV shows, clothings, food trucks” and more — as listed by Yuga.
Case in point, Yuga pointed out that Snoop Dogg and Eminem were able to create a VMA-nominated BAYC music video because of rights like these.
