MIAMI--(BUSINESS WIRE)--Yuga Labs, web3 leader and home of Bored Ape Yacht Club (BAYC), CryptoPunks, and Meebits, today announced the Punks Legacy Project. The program’s inaugural donation is CryptoPunk #305 – which reflects Miami’s iconic area code – to Miami’s leading contemporary art museum, the Institute of Contemporary Art, Miami (ICA Miami).
As the first project of its kind, the Punks Legacy Project will oversee the donation and installation of several CryptoPunks to leading contemporary art museums around the world, and will collaborate with those museums on the installation of the art by offering resources regarding Web3 education, crypto art history, crypto security, and NFT best practices. CryptoPunks are known widely as the intellectual and philosophical icons of web3 – as well as one of the first ever NFT collections. The 10,000 CryptoPunks were created as individual pieces of generative art inspired by the London punk scene.
“Just like how Jeff Koons and Andy Warhol drove a renaissance for contemporary art, I hope that CryptoPunks can lead that charge for NFTs,” said Noah Davis, CryptoPunk Brand Lead. “We believe NFTs belong in museums, and I’m thrilled to be kicking off the Punks Legacy Project with ICA Miami and CryptoPunk #305.”
Celebrating the company’s deep Miami roots, Yuga Labs is kicking off the project by gifting Punk #305 to ICA Miami, whose collection reflects the most pressing art and ideas influencing contemporary art. The acquisition of a CryptoPunk by a major art museum affirms the collection’s pioneering role in the rise of NFT art and its influence on today’s cultural production. This CryptoPunk donation to ICA Miami comes after Yuga Labs announced its commitment of $1 million to support arts and education initiatives in Miami.
“ICA Miami’s collection reflects the art and ideas that define our present moment and drive forward cultural conversations,” said Alex Gartenfeld, ICA Miami Artistic Director. “As one of the first NFT collections on the Ethereum blockchain, CryptoPunks have become emblematic of the rise of cryptoart and the ways artists are utilizing emerging technologies. We are grateful to Yuga Labs for its generous support, which includes ongoing dialogue and collaboration to bring web3 best practices to the museum field.”
“We’re excited to see CryptoPunk #305 become a Web3 icon for Miami,” said Greg Solano, co-founder of Yuga Labs. “Yuga Labs co-founder Wylie Aronow and I are both born and raised in Miami, and one goal of ours is to invest in the city at large. We’re thrilled to be kicking off the Punks Legacy Project in our hometown with ICA Miami and a Punk that is reflective of our community, and even our area code.”
Punk #305 will be unveiled and installed at ICA Miami on December 3 and will remain on view through the end of the year. Over the next year, Yuga Labs will continue donating CryptoPunks to museums around the world. Learn more on our website at http://news.yuga.com/punks-legacy-project.
About Yuga Labs
Yuga Labs is a web3 company shaping the future through storytelling, experiences, and community. Guided by the belief that the potential of web3 can be realized when we start with imagination, not limitations, Yuga’s initiatives aim to reinvent what real-world utility for NFTs look like and push the space forward as a whole. Since their launch in April 2021 with flagship collection Bored Ape Yacht Club, they’ve made headlines as one of the first companies to release IP licenses to their NFT holders, acquired and released rights to other top collections (CryptoPunks and Meebits), and made web3 history with record-breaking synchronized player participation in their newest initiative, Otherside. One of the most ambitious interactive metaverse projects to date, Otherside is built with the community, rebelling against traditional walled gardens in gaming spaces. In March 2022, Yuga Labs raised a $450M seed round at a $4B valuation.
About ICA Miami
The Institute of Contemporary Art, Miami (ICA Miami) is dedicated to promoting continuous experimentation in contemporary art, advancing new scholarship, and fostering the exchange of art and ideas throughout the Miami region and internationally. Through an energetic calendar of exhibitions and programs, and its collection, the ICA Miami provides an important international platform for the work of local, emerging, and under-recognized artists, and advances the public appreciation and understanding of the most innovative art of our time.
Launched in 2014, ICA Miami opened its new permanent home in Miami’s Design District on December 1, 2017. The museum’s central location positions it as a cultural anchor within the community and enhances its role in developing cultural literacy throughout the Miami region. The museum offers free admission, providing audiences with open, public access to artistic excellence year-round.
The Institute of Contemporary Art, Miami is located at 61 NE 41st Street, Miami, Florida 33137. For more information, visit www.icamiami.org or follow the museum on Instagram, Twitter, and Facebook and explore the ICA Channel for inside looks at ICA Miami exhibitions and the practices of the most exciting artists working today.