Crypto Gloss

Larva Labs

Larva Labs is a two-person creative studio founded by Matt Hall and John Watkinson that created the three most historically significant NFT collections before the 2021 NFT boom — CryptoPunks (June 2017, the original PFP and the NFT that established pixel art avatar culture), Autoglyphs (April 2019, the first fully on-chain generative art on Ethereum), and Meebits (May 2021, 20,000 3D voxel characters) — before selling the CryptoPunks and Meebits IP to Yuga Labs in March 2022.

The Founders

Matt Hall and John Watkinson are Canadian software developers who met while working in the technology industry. They founded Larva Labs as a creative software studio experimenting with generative art and novel technology applications.

Both founders have maintained a relatively low public profile, particularly compared to the celebrity status of some other NFT founders. They are known primarily through their work rather than through personal branding.

The Collections

CryptoPunks (June 2017)

  • Originally given away for free (anyone with an Ethereum wallet could claim one)
  • Became the most valuable and culturally significant NFT collection
  • Established the PFP (profile picture NFT) category
  • Floor price exceeded 100 ETH during the 2021 bull market; individual Punks sold for millions
  • One Punk (Punk #5822 — an alien) sold for 8,000 ETH (~$23.7M) in February 2022

Autoglyphs (April 2019)

  • First fully on-chain generative art on Ethereum (the algorithm and art stored in the contract)
  • Minted for ~0.001 ETH (a 350.org donation)
  • Inspired Art Blocks and the broader on-chain generative art movement

Meebits (May 2021)

  • Free mint for CryptoPunk and Autoglyph holders
  • Public sale at 2.5 ETH
  • Designed as 3D/metaverse-ready avatars

The Yuga Labs Sale (March 2022)

In March 2022, Larva Labs sold the CryptoPunks and Meebits IP to Yuga Labs (the company behind Bored Ape Yacht Club). The deal included:

  • Full IP rights to CryptoPunks and Meebits
  • Commercial rights granted to all holders (Larva Labs had not done this)
  • The original contracts remained on-chain — Larva Labs did not control the NFTs themselves
  • Autoglyphs remained with Larva Labs

Why they sold: Hall and Watkinson have been candid that they found the business/community management side of crypto culture uncomfortable and preferred to focus on technical and creative work rather than operating a media company. The sale allowed Yuga to handle the IP business while the original contracts remained immutable on-chain.

Autoglyphs legacy: Autoglyphs were not sold and remain under Larva Labs. They are traded on secondary markets like any NFT — Larva Labs doesn’t control them but retains the creator identity.

History

  • June 2017 — CryptoPunks released; initially free; 10,000 characters claimed by Ethereum users; originally dismissed as an experiment
  • 2018–2020 — CryptoPunks appreciated slowly as the NFT market developed; Larva Labs continues experimenting
  • April 2019 — Autoglyphs released; first on-chain generative art on Ethereum; limited to 512 pieces
  • 2020–2021 — CryptoPunks floor price rises dramatically; Larva Labs becomes central to NFT history discourse
  • May 2021 — Meebits release; free for Punk/Autoglyph holders; public at 2.5 ETH; successful launch
  • August 2021 — CryptoPunks floor at all-time highs; individual Punks sell for millions
  • March 2022 — Larva Labs sells CryptoPunks and Meebits IP to Yuga Labs; commercial rights granted to holders
  • 2022–2024 — Autoglyphs remain with Larva Labs; both founders maintain lower profiles; Yuga manages the CryptoPunks ecosystem

Common Misconceptions

  • “Larva Labs still controls CryptoPunks.” — Since March 2022, Yuga Labs owns the IP. The original Larva Labs smart contract is immutable on-chain — no one can alter it — but Yuga manages the brand, IP licensing, and community.
  • “Larva Labs created all these projects for profit.” — CryptoPunks were given away for free in 2017 with no expectation of their future value. The projects were experiments in generative systems and Ethereum smart contract capabilities. The financial outcome was largely unplanned.

Social Media Sentiment

  • X/Twitter: Matt Hall and John Watkinson have minimal social media presence; Larva Labs’ work is discussed constantly in NFT history contexts even without their active participation.
  • r/CryptoPunks / r/NFT: Larva Labs are treated with reverence as the founding team of NFT culture; the Yuga sale is viewed as bittersweet — a practical decision but the end of the original era.
  • Crypto art community: Autoglyphs are considered Larva Labs’ most artistically significant work; CryptoPunks their most culturally significant; both are canonical.

Last updated: 2026-04

Related Terms

See Also

  • CryptoPunks — Larva Labs’ most culturally significant creation; the original PFP NFT collection and the foundation of the entire NFT art world
  • Autoglyphs — Larva Labs’ most artistically significant creation; the first on-chain generative art; still under Larva Labs’ creator identity
  • Yuga Labs — the company that acquired CryptoPunks and Meebits from Larva Labs; now manages the ongoing CryptoPunks IP and community

Sources