Why Bored Ape cartoon monkey NFTs crashed to a 2-year low this week

Yuga Labs, which owns the Bored Ape Yacht Club, introduced ApeCoin in 2022 as a crypto token to enhance gaming and commerce within the BAYC ecosystem. In June, ApeCoin’s decentralized autonomous organization came under fire for its leadership board reportedly receiving high monthly payments of up to $75,000 a month, according to some reports. The compensation led community members to sour on the entire BAYC ecosystem.

Source: Why Bored Ape cartoon monkey NFTs crashed to a 2-year low this week

RightsTech Extra

AI Companies Get the Picture

By Paul Sweeting

One of the biggest challenges facing copyright owners in grappling with the rapid development of generative AI technology, apart from a murky legal status, has been market failure, as discussed here in previous posts. The amount of existing material needed to train gen-AI models is so great, and so varied, that gauging the value of any one piece of it to establish a market price for it for licensing purposes is often effectively impossible. One group of rights owners is finding willing buyers among AI companies, however. An active, albeit for various reasons mostly sotto voce market has begun to emerge for the use of images held in large photo archives and by photo agencies and social media platforms, complete with per-unit industry and at least a nod toward creator attribution... Read More >>

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