NFT utilities have come a long way from being mere tokens of social media showmanship or proof of luxury. Now, they offer real-world incentives and benefits for their communities. Yuga Labs, the team behind popular NFT collections Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC), is at the forefront of this shift. They are known not only for their successful projects but also for their commitment to building sustainable communities around them. With the introduction of Made by Apes, Yuga Labs aims to take community-centric thinking to the next level.
So, what exactly is Made by Apes and how does it differ from other offerings in the crypto community? Made by Apes is a platform created by Yuga Labs specifically for holders of BAYC and MAYC NFTs. It provides a way for these holders to enhance their ownership rights, connect with other holders, and showcase their NFT assets to the world. One unique feature is that holders can obtain the “Made by Apes” logo for their ideas or projects inspired by their NFT assets.
To ensure the authenticity and legitimacy of these licenses, Yuga Labs partnered with SaaSy Labs to record them on the blockchain. This means that BAYC members and the larger Web3 community can verify and track their ownership entirely on-chain. For example, a BAYC NFT holder can use their NFT to create a product such as a shirt or a cup. By acquiring a license, they gain the right to display the Made by Apes logo on the product, which adds an extra layer of credibility and connection to the Yuga Labs ecosystem.
This is not the first time Yuga Labs has explored the use of BAYC NFTs beyond the digital realm. In the past, BAYC NFTs have been used in music videos, concerts, and event promotions. With Made by Apes, the scope of possibilities for NFT holders has expanded even further. It allows them to create a distinct and verifiable identity for their products, ensuring that their authenticity can be easily verified, even by those who are not familiar with the crypto space.
So, how does Made by Apes work? The license is a certification that the product or service provider owns or has licensed a legitimate BAYC or MAYC NFT. Its primary goal is to filter out fake NFT claims and offer more protection to consumers. To acquire a license, the user must currently hold the BAYC or MAYC NFT and connect the wallet in which it is contained. This serves as proof of their connection to the Ape community.
Each NFT is associated with a primary license, which is the core licensing component. In addition, an accompanying license number is issued for each NFT. NFT holders can utilize these licenses for both personal and commercial purposes. Furthermore, users have the option to register a product-level license, which enables them to distinguish between individual products. These product licenses include the primary license number along with an additional three-digit product identifier, ensuring each product has a unique identity.
For products that feature multiple Ape NFTs, providers have the option to consolidate their licensing efforts by registering under a single master license and adding other Apes as sublicenses. However, if the Apes are owned by different individuals, separate licenses must be procured from each respective owner.
The Made by Apes license is exclusive to BAYC and MAYC NFT holders. The rights associated with the commercial use of the NFT are enjoyed exclusively by the NFT holder. However, when the NFT is sold or transferred, the licenses are terminated and do not automatically transfer to the new owner. If someone wants to obtain their own Made by Apes logo, they must own a BAYC or MAYC NFT.
Since the introduction of Made by Apes, Ape holders have found creative ways to utilize the licenses. Some interesting projects include Ape-inspired alcoholic beverages, such as Twisted Ape, Mutants Beer, and branded lifestyle products like chocolates by Frens. Applied Primate has also utilized the Bored Ape and Mutant Ape IP to create comic books, merchandise, and clothing. All of these products will soon be curated in a directory called “The Bodega,” where Yuga Labs will showcase the latest products crafted by the Ape community members.
In conclusion, the Made by Apes license demonstrates how the expansive Web3 space can intersect with the traditional world, offering both metaverse and real-world utilities. It also highlights the importance of continuous innovation in NFT projects to improve the value and benefits for their users. Made by Apes is a prime example of how NFTs can be leveraged to create unique and verifiable identities for products, while also fostering a strong and interconnected community.
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