Why did Yuga Labs purchase Crypto Punks IP?

_zondo
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Why did Yuga Labs purchase Crypto Punks IP?

I had the chance to attend the hNFT fest this weekend in Barcelona and one thing that came across from a number of the attendees was, in my opinion, their dislike of the Yuga Labs BAYC project.

Historical value of NFTs aside, I asked myself, why did Yuga Labs bought the project in the first place? One immediate answer that came to mind was "fail safe".

For me, Yuga is "innovating" in the space with their BAYC project, but nothing is for certain and no one is too big to fail. Meaning, one possible outcome is that the team doesn't succeed in creating what ever it is they're creating and the purchase of the Punks project allows them a safety net if you will.

If this is true, I prefer to invest in Punks rather than Apes. But is this obvious? I don't know. I think a lot of ppl prefer Apes rather than punks for their "utility".

I just wanted to share this though with the internet. Hopefully I can get some answers.