One result of the recent crypto-market difficulties has been anger from people who bought expensive NFTs, then saw their value plummet.
The US Securities and Exchange Commission (SEC) is investigating Yuga Labs, the company behind lucrative NFT brand Bored Ape Yacht Club.
Cartoon-ape NFTs are ubiquitous in crypto circles thanks to the success of Bored Ape Yacht Club, but are they just a flash in the pan until something buzzier comes along?
Live Nation dipped its toes in the music NFTs waters with digital ticket stubs late last year; now rival AEG Presents is making its own non-fungible move.
Yuga Labs is the startup behind popular NFTs brand Bored Ape Yacht Club. It’s also worth up to $5bn according to the Financial Times.
You certainly can’t accuse NFTs brand Bored Ape Yacht Club of being slow to explore music partnerships.
It’s a sign of the times when the world’s biggest major label has an imprint described as “a next-gen Web3 label that discovers and develops artists, intellectual property, brands and digital creators”.