Noah Davis, responsible for hosting Beeple’s historic auction Every day: First 5000 days Officially joins Christie’s as a brand lead for CryptoPunks at Yuga Labs. This announcement comes from two tweets from Davis and Yuga Labs co-founder Greg Solano, also known as Gargamel.
Yuga Labs’ first major CryptoPunks will move after acquisition
Noah Davis has published a tweet thread about his new position coming on Sunday, June 19th. In his first tweet, Davis states that he will leave his current position at Christie’s in July.
Importantly, this news is the first actual development of the CryptoPunks collection since Yuga Labs purchased it from Larva Labs in March of this year. In fact, Yuga Labs at the time emphasized taking a cautious approach to handling CryptoPunks. Of course, the creators of Bored Ape immediately gave punk owners full commercial rights to NFTs. Other than that, it’s pretty quiet when it comes to CryptoPunks.
With that in mind, it’s not surprising that most of the messages from both Davis and Solano focused on Yugarabo’s ongoing efforts to avoid annoying movements to punk owners. As Davis said:
“It’s important to see what we’re not doing … Simply put, I don’t F *** punk. What do you mean? It’s a lunch box or TV show / crap movie Means there is no punk … There are no arbitrary rushing utilities or thoughtless airdrops. If you love punk because it’s what punk is (punk only) It means you and I are looking at each other … “
Were there any insider trading based on the announcement?
News about Yuga Labs’ recent recruitment has met mostly positive and congratulatory replies from Twitter CryptoPunks holders. That said, there were some unfortunate community members. Specifically, there were accusations of insider trading before and after the announcement.
To explain, the secondary sales of CryptoPunks surged in the days leading up to the announcement. As a result, some people on Twitter believe that certain insiders heard the news before it was released. In fact, CryptoPunks has significantly increased its minimum price from 49.52 ETH on June 18th to 67.9 ETH at the time of writing.
There may be an analysis of which wallet was buying the punk before the announcement. In any case, it will be interesting to see how Yuga Labs and Davis will deal with CryptoPunks in the future.
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