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NFT heavyweight Yuga Labs is attempting to cement its place in French art history with the donation of CryptoPunk #110 to one of the country's leading contemporary art museums.
The female punk, who wears purple lipstick, an earring, smokes a cigarette and sports a mohawk will live in the Centre Pompidou's permanent collection. It is part of the NFT shop's Punks Legacy Project.
CryptoPunk #110 is the second Punks Legacy Project donation from Yuga Labs. CryptoPunk #305 was donated to the Institute of Contemporary Art, Miami at Art Basel 2022.
CryptoPunks are generally considered one of the most valuable assets in the NFT space, which has seen values drop over the past year. The floor price, or the lowest entry point to the collection for buyers, has been consistently rangebound between 60 and 65 ETH (or around $100,000) since September, according to data from NFT Price Floor.
Since June last year, the CryptoPunks collection has been headed by Noah Davis, the former head of digital art at Christie's auction house, who said that "aesthetically speaking, Punks are about as chic as Donald Judd furniture or Piet Mondrian paintings," and believes that CryptoPunks deserve to be on the walls of contemporary art and design institutions worldwide.
Yuga Labs also owns top collections including Bored Ape Yacht Club, Meebits, Otherdeeds and Beeple’s 10KTF.