Impression Gallery collaborates with Bored Ape Yacht Club collectors to release limited edition prints sold out! How open is the copyright of BAYC?

Taiwan Impressions Gallery recently collaborated with the Bored Ape Yacht Club (BAYC) to release 50 prints based on BAYC #7153, all of which have been sold out. Due to the fact that the BAYC creators have explicitly granted a certain level of copyright openness, this is also a rare public NFT copyright exercise activity in Taiwan. What rights can BAYC collectors actually exercise?

Impression Gallery Collaborates with Bored Ape Yacht Club Collector to Release Prints

Impression Gallery has partnered with Bored Ape Yacht Club (BAYC) collector Bryant Chao to launch the BAYC Machine Bubble Ape prints based on BAYC #7153, which were sold out before the deadline. Impression Gallery stated, "Bored Ape Yacht Club collector Bryant Chao aims to bring the highly trendy artwork to more Bored Ape enthusiasts by materializing the virtual NFTs, integrating the spirit of Bored Ape into daily lifestyle, and promoting the BAYC community and its underlying blockchain significance."

These fifty prints were priced at 8,800 TWD each before tax, generating sales revenue of 440,000 TWD for collectors and the gallery. The last recorded transaction of BAYC #7153 was two months ago at a selling price of 69.69 ETH.

Widespread Use by Collectors! High Level of Openness in Bored Ape Yacht Club Copyright

BAYC's creator, Yuga Labs, explains the openness of its copyright on the website, stating that once a collector purchases the NFT, they fully own it, including the artistic content. The ownership medium is an Ethereum smart contract, and Yuga Labs is not permitted to seize, freeze, or alter any ownership rights of BAYC under any circumstances.

Yuga Labs states that collectors can use the artistic content for free. Collectors do not need to pay any royalties when using, reproducing, or displaying BAYC artworks as long as it is for the following purposes:

• Displaying in markets where ownership of the NFT can be verified for sale
• Displaying on third-party websites or applications where ownership of the NFT can be verified

There are no restrictions on commercial use. Yuga Labs authorizes collectors to use, reproduce, and display purchased artworks and their derivative products globally, such as T-shirts, without restrictions on profiting from these activities.

Lucrative Opportunities in Top NFT Copyrights

BAYC, which includes celebrity endorsements, brand collaborations, and open collector copyrights, has become the highest floor price project in the current NFT market, reaching 89.96 ETH before the deadline, significantly surpassing the pioneering project CryptoPunks, which reached 66 ETH before the deadline.

Furthermore, CloneX, which has gained significant attention in recent months, also has clear copyright regulations from the beginning:

• NFTs without Murakami traits can be used for commercial purposes up to one million USD
• NFTs with Murakami traits cannot be used for commercial purposes

It is not difficult to imagine that in the open metaverse, as owners increase their value and visibility alongside their NFTs, corresponding business opportunities may arise, such as individual projects centered around NFTs or endorsement opportunities. These opportunities may potentially tap into the existing commercial interests of major brands.