Christie’s NFT chief announced on Sunday that he will join industry heavyweight Yuga Labs as head of the recently acquired CryptoPunks collection.
I am honored and honored to announce that I will leave my current position in July to manage CryptoPunks as a Brand Lead under the umbrella of @yugalab before saying anything else it is important to confirm what we will NOT do … in a nutshell: I WILL NOT GET FUCKED WITH THE PUNKS … 🧵👇🏻
– Noah (@NonFungibleNoah) June 19, 2022
Noah Davis tweeted: “I can’t really overstate how awesome this journey out of the old art world and into Web3 has been and I can’t wait to see where the road ahead will lead … I just know it will continue to be wild and weird. And I like it that way“.
At Christie’s, Davis was commissioned to auction Beeple’s work entitled “The first 5,000 days“. The sale made headlines at the time, in March 2021, for its $ 69 million price tag, a figure that placed Beeple. “among the three most precious living artists.“
Until recently, Yuga Labs’ flagship resource was the Bored Ape Yacht Club (BAYC). But in March of this year, the company bought the intellectual property rights from CryptoPunks. This led to speculation about what changes Yuga would make to how people could use their NFTs. At the time, Yuga promised that he would not try to emulate the club model he had created for BAYC and that he would try to add utility in other ways for punk owners.
In his announcement, Mr. Davis has pledged not to “to pee“the CryptoPunks, adding that they would not feature pixelated characters on lunch baskets or direct”bad TV shows or movies“.
Punk, art and other news 🧵
– Garga.eth (@CryptoGarga) June 19, 2022
BAYC co-founder Garga tweeted on Sunday that the new terms for the Punks would be rolling out within the next two weeks.
“Why are you late?“, He added. “These terms were frankly too important to be rushed and too impactful for the NFT community as a whole to risk developing them in silos.“.
“We are committed to taking a slow and thoughtful approach to punks that takes into account the involvement and support of the community. We are honored to be stewards of this historic intellectual property and have the utmost confidence in Noah and the punk community.“
The announcement of this hiring comes against the backdrop of a low price and rapidly increasing trading volume for the CryptoPunk collection. According to data provider Cryptoslam, CryptoPunks’ sales volume reached $ 10.4 million in the past 24 hours, an increase of more than 230% from yesterday.
Punks are getting a serious offer: the biggest 24-hour minimum price hike in 2022.
Another ~ 30% until BAYC / Punk is overturned. pic.twitter.com/sNwgDAs9kC
—Luca Martin (@VentureCoinist) June 19, 2022
Also, according to Coingecko data, the collection’s minimum price had started to skyrocket even before the announcement hit Twitter.