Yug Labs to change logo that mimics Kids’ Drawing Guide

It appears that the logo of the Bored Ape Kennel Club (BAKC) NFT collection, owned by Era Labs, was used without a license or permission from its artist. First the eyes of an eagle saw twitter user On Friday, the original creator of the image, Easy Drawing Tutorial, and the co-founder of Era Labs both acknowledged the similarity. Greg Solano (“Gargamel” before that identity revealed one year ago.)

Yug Labs to release BAKC collection in June 2021 and then applied for a trademark Its logo in November, but on the official Twitter of Easy Drawing Tutorial was Posted an image of a approximately equal Wolf Skull three months earlier, in April 2021.

Easy Drawing Tutorials is a resource that provides “non artistsStep-by-step instructions for drawing cartoonish images of various animals and objects.

Easy drawing tutorials have clear language’ Terms and conditions that restricts the commercial use of its proprietary material.

According to Solano, Era Labs hired a freelancer to create the logo’s design, and that Era Labs has reached out to both Freelancer and Easy Drawing Tutorials in question as part of an investigation into the alleged infringement of intellectual property. .

Solano also said that the logo will be removed and replaced on the project’s website and that Yuga Labs will ask the marketplace to do the same.

Era Labs and Easy Drawing Guides both declined decrypt Request for further comment.

Yug’s breakthrough in the NFT market

The Bored Ape Kennel Club NFT collection was released for free to any wallet holding Bored Ape. Solano said that “the collection was meant to raise money for charity from the beginning,” and it has raised over $1 million for animal charities.

but according to the project WebsiteOnly the 2.5% royalty fee on secondary sales from the first six weeks will be donated, meaning Yuga Labs will be making profits from the BAKC collection through approximately August 2021.

with a market capitalization of over $115 millionThe BAKC collection is one of several NFT collections created by Yuga Labs – notably the Bored Ape Yacht Club collection, which has a higher market capitalization. $1.2 billionand Mutant Ape Yacht Club, roughly $500 million Market cap, per CoinGecko.

One Era Labs pitch deck it was Groove November reveals the company projects net revenue of $127 million in 2021 and $455 million in 2022.