NFT utilities have moved from mere social media showmanship or proof of luxury. Now, they do more, offering real-world incentives for their communities. At the fore of this is Yuga Labs, the team behind NFT collections Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) – some of the most renowned projects in the crypto ecosystem.
Aside from the projects it has created, Yuga Labs is also known for its community-centredness. The team has, in the past, reiterated their commitment to building sustainable communities around their projects. With several of these initiatives already launched, Made by Apes is an idea motivated by the same community-centric thinking.
We delve into the basics of Made by Apes in this article. What do they offer the holders, and how is it different from anything we have seen in the crypto community? Let’s find out!
It’s a Twisted Mule kinda night. What’s in your cup? pic.twitter.com/XWdi5H90Ny
— CaptainFuego.eth (@FuegoCEO) September 3, 2023
What is it?
Made by Apes is a platform designed by Yuga Labs for holders of its BAYC and MAYC NFTs to enhance their rights, connect with other holders, and showcase their NFTs to the world. Notably, holders of these NFTs can get the “Made by Apes” logo for ideas or projects inspired by their NFT assets.
Yuga Labs partnered with SaaSy Labs to record these licenses on the blockchain. As a result, BAYC members and the larger Web3 community can verify and track their ownership entirely on-chain.
A BAYC NFT holder can, for example, use that NFT on a product such as a shirt, a cup, or any other merchandise. Securing a license gives them the right to display the Made by Apes logo on the product, thus adding an extra layer of credibility. To most users, acquiring these licensed products may be a way for them to connect with the Yuga Labs’ ecosystem.
This is not the first time we have seen something of this nature from Yuga Labs, however. In the past, BAYC NFTs have been used in music videos, at concerts, and for event promotions. Now, with Made by Apes, the extent of rights over the NFTs has been extended further.
Not only that, users can also create a distinct and verifiable identity for their products. Undoubtedly, the internet is rife with BAYC and MAYC pictures, which might make verifying authenticity hard. Worse if you are not a crypto native.
With the Made by Apes, users can verify the authenticity of the logos used on the products. The verification also establishes a history of commercial use that other people can trace, alongside the ownership of the NFT.
How does it work?
According to information on the website, the license is a certification that the product/service provider owns or has licensed a legitimate BAYC or MAYC NFT. The primary goal is to sieve out fake NFT claims and offer more protection to consumers.
The Made by Apes license is paired with a BAYC or MAYC NFT. However, the user making the request must currently hold the BAYC or MAYC NFT and connect the wallet in which it is contained. Once acquired, the license serves as proof of connection to the Ape community.
The primary license is associated with each NFT and is the core licensing component. Alongside the primary license, an accompanying license number is issued for each NFT. NFT holders have the flexibility to utilize these licenses for both personal and commercial purposes. Moreover, users have the option to register a product-level license, enabling them to distinguish between individual products. These product licenses will include the primary license number, along with an additional three-digit product identifier. Yuga Labs emphasizes that this approach is designed to imbue each product with a distinct and unique identity.
Moreover, products featuring multiple Ape NFTs have the option to consolidate their licensing efforts by registering under a single master license and subsequently adding other Apes as sublicenses. In cases where the Apes are owned by different individuals, the product provider is required to procure separate licenses from each respective owner.
Who can benefit
As mentioned above, the license is exclusively for BAYC and MAYC NFT holders. The rights enjoyed through the commercial use of the NFT are also enjoyed by the NFT holder. However, when the NFT is sold or transferred, then the licenses are terminated.
It is also important to note that the licenses don’t transfer automatically to the new owner. If interested, the new owner will have to apply for new primary and product licenses. Therefore, if someone wants to get their own Made by Apes logo, then they must either own a BAYC or MAYC NFT.
Popular Use Cases
Since its introduction, Ape Holders have put the licenses to varying uses. Interesting projects borne of this innovation include Ape-inspired water, alcohol, entertainment, food services, and consumer packaged goods. Some holders have also used the licenses for their cannabis business, in pop culture, branded lifestyle products, storytelling, and Games. Some of the more interesting items to come out of the initiative include:
- Twisted Ape – A range of alcoholic beverages including high end liquor and craft beer inspired by Bored Ape and Mutant Ape collections.
- Mutants Beer – Has had a similar idea and launched a strikingly green ale in a collaboration between 3 Yuga Labs NFT holders, while also incorporating IP of other NFT collections such as Cool Cats and Deadfellaz.
- Frens – This company has taken to the Made By Apes project with gusto by creating chocolate bars featuring Bored and Mutant Apes. As a result, those with a sweet tooth can enjoy tantalizing flavours such as Coffee Chocolate, and Birthday Cake.
- Applied Primate – A platform utilizing the Bored Ape and Mutant Ape IP to create a range of comic books, merchandise, and clothing!
All of these creative products will soon be curated in a directory called “The Bodega.” There, Yuga Labs will display the latest products crafted by the Ape community members.
The Made by Apes license shows that the expansive Web3 space can relate and interact with the traditional world. We have already seen the application of these in projects offering both metaverse and real-world utilities.
It also shows that NFT projects have to continuously innovate to improve the value and benefits their users enjoy.
Want more? Connect with NFT Plazas
*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
A blockchain maximalist who believes that technology is necessary for the future we are heading to. An ardent researcher and writer who uses his writings to inform about the prospects in the blockchain space.
If this article, video or photo intrigues any copyright, please indicate it to the author’s email or in the comment box.