Cash Coming From Bored & Dangerous
Jenkins the Valet provided an update on Bored & Dangerous royalties, podcast licensing, and more, in a Medium article published today.
What It Means
Long story short, Tally Labs must obtain personal information from individuals prior to issuing payouts. Issuing payouts anonymously would jeopardize the receiving individual, the business, and the community.
Those who are unwilling to KYC will be forced to waive their claim to payouts. Waived funds will be split in two ways: a portion will be rolled over into the licensing pool for the Jenkins Podcast, and the rest will be put towards funding community-led projects.
📊 By the Numbers
The project will be paying out roughly $365,000 back to the community.
❗ Why It Matters
Since 2021 the regulatory environment has evolved for providing royalties back to participants. The project indicated that "clarity around certain regulatory decisions have been made in the last 12 months," and that "there have been precedents set that shine a light on how companies in the Web3 space must operate."
While this has resulted in an obvious delay for Bored & Dangerous payments, it's notable that Tally Labs is trying to do things properly.
The crypto/NFT space has been under the microscope from regulatory entities like the SEC, especially in the wake of the FTX calamity, as well as other NFT token situations (such as Gutter Cat Gang's indefinite postponement of the $GANG token, and Ape holders in the US being geo-blocked from staking their $APE on Horizen Labs). It's clear that projects must continue to be cautious - and compliant - in how it disburses payments back to holders.
🎤 Founder Feedback
We understand parts of this process may not be what folks want to hear, but it's what we (and any other legally compliant company) must do to be here over the longterm. Our top priority is to make sure we are protecting the interests of the community and the business.Jenkins The Valet 🍌
🎬 Take Action
Need to KYC to claim royalties? Bored & Dangerous is is partnering with Jumio, a leader in end-to-end ID Verification and AML Solutions. Jumio will manage the collection of certain personal information to ensure that all payments are above board, and that both parties are protected.
The specific process to claim payments will be:
- Connect your wallet on the website
- Will be issued a unique code that you will take to Jumio
- Enter that code in a Jumio workflow
- Jumio will collect personal information that is stored in their bank-grade secure database
- Jumio will pass an approval decision back to Tally Labs based on your personal information
Once the Jumio process is complete, you’ll be able to claim the payout. The payout process may lag the personal information process by a few days to weeks, but not by longer.
🔜 What’s Next?
- The project is going to open up licensing for the Jenkins podcast, and it will be live in the next few weeks. Every licensing deal can now be made on-platform with a few clicks.
- Writer's Room holders will be able to browse all the characters that were created to help Jenkins, and use the Writer's Room NFT to send partnership offers on the spot
🧠 Learn More