Yuga Labs' New CryptoPunks Mint Sparks Mixed Reactions Amid $12.4 Billion Valuation and Declining Floor Price

Yuga Labs, the company behind CryptoPunks, has recently launched a new CryptoPunks mint, sparking mixed reactions from the community. Some members appreciate the artistic contributions from well-known artists like Nina Chanel, viewing it as a tribute to the original CryptoPunks while staying true to the artists' styles. However, others criticize Yuga Labs for being out of touch with the community's desires and accuse the company of diluting the brand. Despite the company's treasury being valued at $12.4 billion, there is discontent over their attempts to monetize further. The floor price of CryptoPunks has also been reported to be declining amid these developments. In October 2023, $555 could get one of the 10k silk screens 'Punk PNGs pulled straight from the blockchain,' totaling $5.5 million.