Yuga Labs entered into a new partnership with Nina Chanel.
The New York-based artist is Yuga Labs’ new artist in residence.
CryptoPunks to exit trading, become historical blockchain art
Yuga Labs, the team behind the popular Bored Ape Yacht Club (BAYC) collection, has announced a collaboration with the renowned New York-based artist, Nina Chanel.
In a recent post, Yuga Labs co-founder Greg Solano outlined plans to distribute Chanel’s latest collection to supporters of her work within the digital art space.
gm,wanted to share an update on punks: when we acquired the collection a couple years ago, we did so with the intention of preserving the legacy of the collection.we see punks as the early cave paintings of this new medium, and we were heavily influenced by them when creating…
— Garga.eth (Greg Solano) 🍌 (@CryptoGarga) May 20, 2024
Solano emphasized that Yuga Labs intends to make Chanel’s work available exclusively to Super Cool World holders through an initial distribution via randomized airdrops. This collaboration, according to Solano, reflects Yuga Labs’ vision of bridging the gap between the traditional art world and the burgeoning Web3 ecosystem.
Solano highlighted the unique qualities of Chanel’s work, specifically her large-scale, graphic pieces featuring bold and vibrant color palettes. He cited her inclusion in the collections of prestigious institutions like MoMA and The Whitney as factors that impressed the Yuga Labs team. Additionally, Solano mentioned the team’s excitement about having Chanel join Yuga Labs as an artist-in-residence.
Solano also provided an update on the CryptoPunks collection, acquired by Yuga Labs earlier this year. The firm, according to Solano, aims to preserve the legacy of CryptoPunks, considering them the “early cave paintings” of the digital art movement. This vision involves collaborating with museums and institutions to acquire digital art pieces and educate their audiences about them.
In essence, Yuga Labs is removing the famous CryptoPunks collection from circulation. However, they will remain decentralized and preserved on the blockchain as historical art pieces that influenced the creation of the Bored Ape Yacht Club (BAYC) digital art collections.
For context, CryptoPunks is a collection of 10,000 unique, NFT characters launched in 2017. This project is considered a pioneering force in the development of digital art solutions within the blockchain ecosystem.
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