Bored Ape Yacht Club NFT Controversies: Logo Theft, Scams and Stolen Tokens
Bored Ape Yacht Club (BAYC), one of the most successful non-fungible token (NFT) collections, has been accused of stealing its logo from another artist. The accusations were made in a recent article published on cryptopumpnews.com.
According to the article, BAYC’s logo bears a striking resemblance to a logo designed by a graphic artist named Kevin Abosch. Abosch claims that he created the logo for a project he was working on in 2017, and that BAYC has stolen his intellectual property.
The article goes on to detail the legal battle that has ensued, with Abosch reportedly seeking compensation for the unauthorized use of his logo. BAYC has not yet responded to the accusations.
The accusations of logo theft come on the heels of a number of other controversies surrounding BAYC. In recent months, the collection has been hit by a number of high-profile thefts and scams, including a phishing scam that resulted in the loss of several BAYC NFTs worth hundreds of thousands of dollars.
Despite these challenges, BAYC continues to be one of the most popular and lucrative NFT collections on the market. Earlier this month, auction house Sothebys sold a set of 107 BAYC apes for over $24 million.
As the NFT market continues to grow and evolve, it remains to be seen how BAYC and other collections will adapt to the changing landscape. But for now, the controversy surrounding BAYC’s logo serves as a reminder of the challenges and risks that come with this new and rapidly evolving industry.