Latest Bored Ape Yacht Club News
Bored Ape Yacht Club No. 4980 sold for 530 ETH or approximately $970,000 earlier today.
The Deets
- BAYC No. 4980 NFT was sold at a 16% premium over its DeepNFTValue of Ξ456.79 ($837.7k).
- The sale realized a profit of 524 ETH for the seller.
- The Ape was purchased by "PimpCapital."
- The sale took place on X2Y2, and no royalties or fees were paid.
The Details
BAYC No. 4980 is one of 46 apes with a "Solid Gold Fur" trait which makes it one of the rarest in the collection. The seller held the NFT for about two years from its last purchase.
The sale marks the largest since BAYC No. 5230, which sold on April 20 for 300 ETH.
📊 By the Numbers
Bored Ape Yacht Club currently holds a floor price of 47.20 ETH, down about 12 percent in the last 30 days. The collection has experienced a small boost since being added to Blur's Blend platform earlier today.
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Newly installed CEO, Daniel Alegre, joined the Bored Ape Yacht Club officially on Wednesday, replacing his MAYC for a Bored Ape PFP.
The Deets
- Alegre purchased BAYC No. 3575
- The Yuga CEO paid 50 ETH or ~$90,000
- Captain hat Bored Ape
❗️Why It Matters
As the top boss in the Yuga Labs ecosystem, it's only fitting now that Alegre owns a Bored Ape - the company's premier NFT.
🎤 Founder Feedback
To my kids: meet a new member of the family. Proud to Ape into BAYC #3575. Does #ApeFollowApe still work?Daniel Alegre
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ALTAVA Group, a luxury fashion brand, announced a licensing partnership with Animoca Brands, whereby Animoca Brands will allow ALTAVA to utilize its Bored Ape Yacht Club NFTs for a project called Bored Ape Golf Club.
The Deets
- BAGC NFTs are golf themed derivative of BAYC.
- BAGC NFTs provide holders with access to golf courses, exclusive merch, and a voxel companion for use in The Sandbox.
- Special edition BAGC NFTs will exist and be outfitted with Sandbox or Animoca Brands clothing.
- IP licensing and management service included
The Details
Each BAGC NFT is created based on the original Bored Apes owned by Animoca Brands, the Sandbox, and Elite Apes.
Holders will have access to a unique IP licensing and management service courtesty of ALTAVA Group, which will have "a dedicated team to help with IP monetization" for BAGC holders.
Holders will at least receive an BAGC branded golf merchandise and access to exclusive courses throughout Korea, Turkey, and Vietnam.
❗️Why It Matters
As the biggest brand in the space, it's no surprise that Bored Apes would be the licensing choice for ALTAVA to create a luxury golf club via NFTs. What is most interesting about the agreement is that the company will provide a dedicated team of workers to help BAGC NFT holders with help in monetizing their IP. Owning the Bored Ape IP is undoubtedly valuable (beyond just the NFT floor price), but few holders have the skills to take advantage of the IP they hold. With ALTAVA's help, BAGC NFT holders will likely have a leg up on your average NFT holder that wants to "make use" of their NFTs IP.
🎤 Community Quotes
BAYC tweeted a brief teaser video that shows 80+ possible traits across the different HV-MTL mech types.
Fewer than a trillion possible combinations. pic.twitter.com/6GHVeUZbMI
— Bored Ape Yacht Club (@BoredApeYC) April 28, 2023
❗ Why It Matters
While the Evo 1 reveal was delayed until next month, it'll be worth the wait based on a glimpse at the montage of various traits that BAYC shared today. Garga previously noted there were 1,050 traits, so this preview included less than 10% of the total trait pool.
🎤 Founder Feedback
Huge amount of traits have gone into the HV MTL collection. Looking forward to seeing what comes through the rift.Garga
Yuga Labs Chief Content Officer Michael Figge provided a TwelveFold update in a tweet thread 🧵 today.
The Details
- Initially, TwelveFold was presented in a format that made sense for satoshi inscriptions.
- Originals were 1,000 x 1,000 pixels.
- But each work in the collection has since been updated to a 12,000 x 12,000 pixel format and 144K resolution.
- This version will be made accessible to TwelveFold collectors.
- Collectors will receive a framed physical print of their piece that will be delivered for free.
❗ Why It Matters
Even with everything else going on within the Yuga ecosystem, such as the ongoing development of the Otherside, the delayed HV-MTL reveal process, and the upcoming Legends of the Mara adventure, the team hasn't forgotten about the owners of TwelveFold, their first work that was purely art.
While TwelveFolds don't include a membership component or utility to be used for further activations, collectors will receive a welcome update in the form of a much higher resolution version of their piece, as well as a framed physical print that will be delivered free of charge.
🔜 What’s Next?
Yuga has prints in production for TwelveFold collectors and are dialing in framing prototypes now. Then...a puzzle?
.
🕳️ Go Deeper
- More To Come From TwelveFold Next Month? (March 17, 2023)
- TwelveFold Outputs Spark Conversation (March 13, 2023)
Mike Seavers, formerly an executive VP of development at Epic Game, will be joining Yuga Labs as its new CTO on May 22, according to a press release shared this morning.
❗ Why It Matters
Seavers brings a wealth of gaming experience at one of the top gaming studios to the Yuga Labs team as it ramps up its gaming initiatives related to The Otherside. This is a clear area of focus for Yuga Labs, who recently named Daniel Alegre, an ex-Blizzard executive, as its new CEO. Gaming will continue to be a foundational pillar of the Yuga Labs ecosystem, and the Yuga is doubling down on its team.
🔙 The Deets
- Seavers will succeed Yuga Labs co-founder Kerem Atalay in the CTO role, though Atalay will "remain with the company as a close strategic advisor," according to the release.
- At Epic Games, Seavers oversaw Epic Games' work on Unreal Engine, Fortnite and the Epic Games Store. He worked at Riot Games prior to joining Epic, where he worked on League of Legends, Valorant and Legends of Runeterra.
🎤 Founder Feedback
"Mike has a proven track record of taking organizations to the next level, and he shares our vision for how important digital identity and community will be for the future of the internet. We have an opportunity to be the web3 platform at the forefront of community and social engagement, through media and entertainment, and Mike's expertise will help us scale to achieve that." -Daniel Alegre, Yuga Labs CEO
🕳️ Go Deeper
- Yuga Labs Taps Blizzard Head As Next CEO (December 19, 2022)
- Gordon Goner Takes Leave of Absence from Yuga Labs (January 28, 2023)
- Morning Minute | Yuga's Juggling Act (March 15, 2023)
- NFT Roundtable | Yuga's NFT World (March 29, 2023)
The HVs won't be making their way across the rift until May, according to a tweet from @BoredApeYC yesterday.
The Details
- The official BAYC account appeared to note the delay by cryptically saying, "One turn right, one turn up, three down, two up… Fuck!!! Locked itself again. We’ll need more time to figure this out."
- The mdvmm.xyz site confirms the minor delay, with the updated infographic for the Evo 1 Reveal now showing May rather than April.
- The Journey to Evo 2 section also used to say "Begins May," but now says "Begins June" instead.
- BAYC co-founder Garga added some color, calling the HV-MTL a "monster of a collection" with "8 types, 1050 traits..."
❗ Why It Matters
Besides creating another week or two of pent-up anticipation, this seems like mostly a non-issue. Especially with May being less than a week away anyway.
Obviously, the Evo 2 component of the journey also got shifted out a month later, but with Yuga having so many projects to juggle, it just makes sense for them to take the time to make sure the execution is up to their standards. Rather than have some sort of issue like the companion trait error.
📊 By the Numbers
Not surprisingly, the floor has dipped about 10% since the announcement (-8.5% on OS and -12% on Blur, where the floor is a bit lower at 1.248 ETH). But not a significant move given overall market conditions, and interest will surely return once upcoming timelines are made more concrete.
🎤 Founder Feedback
8 types, 1050 traits... going to need to make some behind-the-scenes content about the process when we're done. Not yet but soon.
— Garga.eth (Greg Solano) (@CryptoGarga) April 24, 2023
🎤 Community Quotes
A U.S. district court in the central district of California found in the case of Yuga Labs, Inc. -v- Ripps et al. that Ryder Ripps' RR/BAYC collection infringed on Yuga Labs' copyrights and trademarks in a 22-page ruling issued on April 21.
Yuga Labs was granted (in part) a Motion for Summary Judgment in false designation of origin and cybersquatting claims, as reported by Jessica Neer McDonald, trademark and copyright attorney and founder of the IP law firm NeerMcD PLLC (@NeerMcD).
What It Means
False designation of origin means Ripps falsely claimed that his product was associated with the Yuga Labs brand, and cybersquatting means Ripps registered a domain name similar to the BAYC brand to profit from it or damage Yuga Labs' reputation, both of which are against the law.
The Deets
- Yuga Labs was granted summary judgment in false designation of origin and cybersquatting claims.
- Yuga Labs owns the unregistered BAYC Marks, which are valid and enforceable.
- NFTs are goods for the purposes of the Lanham Act (trademarks).
- Ryder Ripps' various defenses ('I'm a conceptual artist; this is free speech criticism via art') were thrown out.
- None of the defenses as to celebrity endorsements or securities violations are related to the trademark dispute.
- Yuga Labs is entitled to monetary damages and injunctive relief, with the determination of damages to be made at trial.
The Details
The court found that the BAYC marks are used in commerce, as required under trademark law. The court also rejected the claim that Yuga Labs had transferred or abandoned its trademark rights through naked licensing and failure to report. And the naked licensing argument (naked licensing occurs when a trademark owner lets others use a trademark without maintaining control over how the trademark is used) is invalid because under its Terms and Conditions, Yuga Labs grants each Bored Ape Yacht Club NFT holder a copyright license for both personal use and commercial use with respect to their respective BAYC ape image, but not a trademark license to use the BAYC marks.
Although Yuga does not have a copyright registration for the ape skull logo, a registration is not required to own a copyright. So the defendants' defense that their RR/BAYC project was "art" as commentary on Yuga' Labs' alleged racist messages and imagery in reality took advantage of the brand recognition and goodwill from using Yuga Labs' BAYC marks. And there was no expression of an idea or point of view, so the use of the BAYC marks was not artistically relevant to their art, and even if it was, the use was still misleading.
In addition, the Court concludes that although NFTs are virtual goods, they are, in fact, goods for purposes of the Lanham Act. The court ruling was based on the precedent set in Hermes International v. Rothschild, which concluded that the Lanham Act does not require goods to be tangible for liability to apply. “While virtual goods are intangible items that exist in a digital space, they are also items that have specific uses and values that are dependent on the consumer” [page 7 of 22]. So treating the NFTs as mere ownership receipts treats the NFTs as only written instructions while ignoring their documented commercial value, association, or creative content.
❗ Why It Matters
The significance of the ruling is far-reaching, with Yuga Labs' Bored Ape Yacht Club existing as one of the premier collections in the NFT space. This court decision provides clarity on trademarks and sets a precedent for legal protections in the context of digital ownership.
📚 Further Reading and References
- Yuga Labs, Inc. v. Ripps Summary Judgment — Document #225
- NeerMcD.eth Mirror post - Yuga Labs Wins Key Victory in NFT Trademark Lawsuit (April 21, 2023)
- Twitter thread 🧵 from @eliana_esq
- Twitter thread 🧵 from @AshKernen
🕳️ Go Deeper
- RR/BAYC Delisted from OpenSea (June 21, 2022)
- X2Y2 Removing Ryder Ripps BAYC (June 28, 2022)
- Jimmy Fallon Seeks Removal From Ryder Ripps Case (March 7, 2023)
Novel Labs, the team behind Mutant Hounds and the Mutant Cartel, and Faraway are collaborating to create Serum City, a city builder game which thrusts Mutant Apes into the spotlight.
The Deets:
- Mutant Apes are the main characters in Serum City
- Game's assets will be interoperable on Ethereum's mainnet
- Game is token-gated, requiring specific NFT ownership for access
- Launch slated for August
- Gaming details not yet provided
- Powered by ApeCoin
The Details
Serum City's main characters are Mutant Apes, and game access will be granted to holders of Mutant Apes, Bored Apes, Genesis Oath, and Mutant Hound NFTs. As the game progresses, access will gradually open up with each new in-game season of content. The game's setting is a dystopian world where Bored Apes are the ruling class, and Mutant Apes are underlings and outcasts.
Serum City will feature an illustrated or comic book-inspired aesthetic, Faraway founder Alex Paley told Decrypt. While gameplay details remain limited, the developers aim to create a richer and more engaging experience than current NFT-based games.
Interoperability is a key focus for the game, with in-game items crafted as NFTs expected to be used in future Novel Labs games. Faraway has previously been building on Solana, potentially opening the door to cross-chain interoperability and functionality as well.
❗Why It Matters
No one has attempted quite as an ambitious task with their commerical rights and IP ownership as Novel Labs founder Lior Messika, who now puts to use the BAYC and MAYC's he has access to in the build of Serum City and the unfolding lore of Mutant Cartel and Mutant Hounds. Messika aims to far surpass the elementary web3 games that have been developed thus far, adding sophisticated depth and lore and simply making Serum City fun to play. The task seems easier said than done, but perhaps the tangential attachment (there is no formal connection) to Yuga Labs' IP will provide a small leg up.
An additional note of interest is the ApeCoin powered ecosystem in Serum City. Many have speculated that additional ApeCoin sinks will create long term benefits for the price of $APE. Might Serum City, a product not officially affiliated with Yuga Labs, ultimately benefit Yuga's ecosystem token?
📊 By the Numbers
Mutant Hounds NFTs, one of three Mutant Cartel NFTs available, offer the cheapest possibly entry into Serum City at present time. The collection has fallen 26 percent in the last month to a floor price of 0.21 ETH.
🎬 Take Action
Users hoping to gain access to Serum City in August will need a BAYC, MAYC, Genesis Oath, or Mutant Hound NFT.
🧠 Learn More
Daniel Alegre announced that today is his last day at Activision Blizzard, and he is officially starting as the CEO of Yuga Labs tomorrow.
❗ Why It Matters
Yuga Labs' focus on its gaming ecosystem is about to go into hyperdrive. Otherside's 2nd Trip recently concluded last weekend, and both the HV-MTL Evo process and the Legends of the Mara experience loom on the horizon.
So the timing of Alegre's arrival couldn't be better, especially in the wake of Yuga Labs co-founder Gordon Goner taking a leave of absence for health reasons at the end of January. It will be incredibly beneficial to have a true veteran of the gaming industry like Alegre at the helm.
🔙 Back It Up
- Alegre was hired as the next CEO of Yuga Labs back on December 19, 2022, and was due to take the reins “in the first half of 2023.”
- He will succeed Nicole Muniz, who will remain as both a partner and strategic advisor.
- At Blizzard, Alegre has served as COO since April 2020. He oversaw the international delivery of franchises like Call of Duty, Candy Crush, Diablo, Overwatch, and World of Warcraft (a personal favorite of Yuga Labs co-founders Gordon Goner and Garga).
- Before Blizzard, Alegre worked at Google for 16 years in various capacities. He built out a global approach to retail across Google's product areas and drove Google's global partnerships across all functional areas, including monetization, maps, search enablement, and transactions.
- Daniel holds a BA degree from Princeton University, as well as dual MBA and JD degrees from Harvard Business School and Harvard Law School.
- Alegre's MAYC #3850 is an M1 Robot with a Cowboy Hat, and was purchased for 16 ETH on December 15, 2022.
🎤 Founder Feedback
Today is my last day as President and COO of Activision Blizzard. Thank you to the incredible teams who create truly epic games. Tomorrow I officially start at CEO of Yuga Labs. Couldn't be more excited for this next chapter. pic.twitter.com/eo3RfIyz0q
— Daniel Alegre (@dalegre) March 31, 2023
🕳️ Go Deeper
- Yuga Labs Taps Blizzard Head As Next CEO (December 19, 2022)
- Gordon Goner Takes Leave of Absence from Yuga Labs (January 28, 2023)
- Morning Minute | Yuga's Juggling Act (March 15, 2023)
- NFT Roundtable | Yuga's NFT World (March 29, 2023)
