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⌐◪-◪ → What in tarnation is going on with Punks?!

Rumors are swirling about Yuga Labs potentially selling the CryptoPunks IP. The buyer? Allegedly, not a major web2 brand or even another big NFT collection like Pudgy Penguins, Azuki, or Doodles. Supposedly, they plan to leave the IP untouched.

For context, Yuga Labs acquired CryptoPunks IP and 400+ CryptoPunks (including V1s) from Larva Labs back in 2022, cementing their place as the dominant force in NFTs. Since then, Yuga has largely left the IP alone, aside from a few official events, artist-in-residence programs, and, of course, the iconic CryptoPunks book.

Naturally, the rumor has sent speculators scrambling, with the CryptoPunks floor price surging 13% to 41 ETH.

If it were up to me, I’d buy the IP and donate it to a foundation run by CryptoPunk holders. The goal? Transition it to Creative Commons, where the IP can be open for everyone to play with, create derivative works, and build on top of it. That’s the real spirit of web3.

Removing IP risk by relinquishing the rights would accelerate the inevitable and prevent the IP from being treated like a hot potato, tossed around between owners with competing agendas. A foundation like this could preserve the Punk ethos forever—heck, you could even call it "24x24."

Sale or no sale, I trust that Garga and Gordon will make the right decision. They’ve always been guided by respect for CryptoPunks and what it represents—the collection that started it all and inspired everything Yuga Labs has become.

No matter what happens, Punks will keep being Punks.

⌐◪-◪ → Dubai is doubling down on crypto!

Dubai just announced the “Crypto Tower,” a 17-story building in Jumeirah Lakes Towers set to become a global hub for crypto, blockchain, and web3.

The tower will feature 150,000 square feet of space across nine office floors for crypto startups, blockchain incubators, venture capital firms, and one floor dedicated to AI innovation.

Of course, in true Dubai fashion, the building will also include an NFT art gallery, gold bullion shop, exotic car dealership, and secure vaults for valuables.

Scheduled to open in 2027, the Crypto Tower underscores Dubai’s continued commitment to web3 innovation and further cements its reputation as a global crypto leader.

Maybe we’ll see a Specs HQ on the top floor?

⌐◪-◪ → Can AI Agents maintain their momentum?

Virtuals, the leading AI agent platform, just announced a major redesign of its value accrual mechanism. The new model redistributes post-bonding taxes to support ecosystem builders:

• 30% to the agent creator

• 20% to Agent Affiliates

• 50% to the Agent subDAO for governance

On top of that, they’ve announced a $40M buyback and burn of 10k AI agent tokens, causing their token $VIRTUALS to pump 5%. Here’s a full breakdown of the buyback.

There’s no denying it—AI agents (aka DeFAI) are dominating the current crypto meta. Their mindshare rivals even the memecoin market. But not everyone is convinced. Seasoned investors like Raoul Pal have called this trend “midcurve,” suggesting it’s overhyped and may not have long-term staying power.

Here’s my take: I’m sticking to my usual strategy—dollar-cost averaging into assets I have 10+ year conviction in. While co-owned AI agents and on-chain free-will AI are undeniably cool innovations, I’m not convinced the current wave of AI agent tokens justifies their sky-high market caps. They feel like the flavor of the day.

That said, I don’t want to dismiss the real innovation happening here. The idea of co-owning AI agents and enabling them to operate autonomously on-chain is groundbreaking and could unlock massive potential. But does that potential warrant the speculative frenzy we’re seeing? Probably not.

Cool tech? Absolutely. A good investment right now? I’m not so sure.

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