• Yuga Labs is changing the logo for its Bored Ape Kennel Club (BAKC) NFT collection after allegations of intellectual property theft.
• A battle between OpenSea and Blur has led to a surge in NFT sales over the past seven days, with transacted volume reaching over $524 million.
• Easy Drawing Guides has asserted its intellectual property rights over the drawing used by Yuga Labs for its BAKC logo.
Yuga Labs Logo Change
The logo for a popular Yuga Labs NFT collection is being changed after it was seemingly ripped off from a follow-along children’s drawing creator. The Bored Ape Kennel Club (BAKC) logo will be updated soon according to co-founder Greg Solano, more widely known as „Garga“. Easy Drawing Guides has asserted its intellectual property rights over the drawing used by Yuga Labs for its BAKC logo.
NFT Marketplace Wars
A battle between OpenSea and Blur has led to a surge in NFT sales over the past week, with transacted volume reaching more than $524 million. The two firms are sparring over fees and creator royalties in an effort to gain dominance in the marketplaces.
Easy Drawing Guides Intellectual Property Rights
Easy Drawing Guides released a wolf skull drawing guide on April 5th 2021, two months prior to BAKC’s June 17th launch date. The firm has asserted its intellectual property rights over the drawing and calls out Yuga Labs for not having a license to use it.
Yuga’s Response
Yuga co-founder Garga tweeted that they were investigating the situation and had reached out to both Easy Drawing Guides and the freelance artist contracted for design of their original logo. He added that they would be updating it on their site and asking marketplaces to change as well once they have debuted their new logo soon.
Conclusion
The rightful copyright owner of any artwork or design should always be respected – even when using them as part of an NFT collection or marketplace battle! Ultimately, this incident serves as reminder that proper licensing must be obtained before using someone else’s work within your own business endeavors or projects.