In association with SaaSy Labs, Bored Ape Yacht Club (BAYC) announces the impending release of “Made by Apes” an on-chain IP verification tool.
With this technology, BAYC members will have an easy way to authenticate their works and create a club-wide official catalog. The BAYC floor price has decreased 90% from its peak.
The organization behind the wildly popular NFT collection, the Bored Ape Yacht Club, has announced their plans to launch an IP verification tool called “Made by Apes” later this month.
The technology was established in collaboration with SaaSy Labs to answer the need for an on-chain solution to authenticate products produced by club members utilizing their intellectual property (IP) and to generate a formal directory for BAYC contributions.
A system for on-chain verification is crucial, according to Greg Solano, co-founder of Yuga Labs, who tweeted about it. He claimed that although club members have been actively producing products using their IP, there hasn’t been a simple or official way to authenticate these assets.
The partnership excitingly presents the possibility to close this gap and offer an approachable solution with SaaSy Labs. SaaSy Labs’ founder Richy Rich stated his passion for the endeavor:
“A little overwhelmed at the moment to see what we’ve been working so hard on come to fruition and see the positive response Everyone asked why IP matters and I think this initiative will substantiate the value of IP”
