In a groundbreaking move, the Infinite Node Foundation (NODE), a nonprofit organization specializing in digital art, has successfully acquired the intellectual property rights of the highly coveted CryptoPunks non-fungible token (NFT) collection from Yuga Labs. The announcement, made on May 13, solidifies NODE’s position as the most well-funded nonprofit organization dedicated exclusively to digital art in the United States. With an additional $25 million endowment, NODE is poised to revolutionize the digital art landscape. The terms of the deal remain confidential, but NODE has revealed the formation of an advisory board to oversee the CryptoPunks collection, which includes key figures such as the original artists Matt Hall and John Watkinson. The mission of NODE is to create a sustainable ecosystem that allows digital art like CryptoPunks to flourish within both digital and art-historical contexts. CryptoPunks, known as “algorithmically generated pixel art characters,” are considered a trailblazer in the art world, having a total market capitalization of nearly $1.2 billion as of May 13, making it the most valuable NFT collection to date. Launched in 2017 by Larva Labs, the NFT collection has generated over $3 billion in sales, with each transaction creating royalties for the IP holders. The highest-grossing CryptoPunk NFT was sold for almost $24 million in 2022, solidifying its status as a prominent player in the NFT market. Yuga Labs, the previous owner of the CryptoPunks collection, also acquired Meebits from Larva Labs before selling it in February. Notably, Yuga Labs recently announced the closure of an investigation by the US Securities and Exchange Commission (SEC), marking a significant victory for the NFT industry. This strategic acquisition by NODE represents a pivotal moment in the digital art world, showcasing the growing importance and value of NFT collections like CryptoPunks.