BAYC Nazi like logo Crypto firm Yuga Labs responds to accusations of Nazi ties

Crypto firm Yuga Labs responds to accusations of Nazi ties

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*Yuga Labs has defended itself against claims that Nazi imagery was embedded into the artwork of its popular Bored Ape Yacht Club NFT collection.

*Artist Ryder Ripps alleged earlier this year that the digital apes depict racist caricatures of black and Asian people, while drawing comparisons between the projects logo and the Nazi Totenkopf skull and crossbones symbol.

*After YouTuber Philion published a video exploring the supposed evidence, Yuga Labs co-founder Gordon Goner said the team decided to clear the air.

*Ripps links to his dossier of evidence at the website gordongoner.com from his Twitter account, labelling BAYC as racist.

*Yuga Labs said it had taken legal action and filed a lawsuit to stop the continuous infringement, and other illegal attempts to bring harm to the firm and community, although there were no further details on who or what it had taken the action against.

*Ripps has created his own collection of NFTs, branded RR/BAYC, satirising the BAYC apes. Despite being removed from NFT platforms such as OpenSea and Foundation, the 10,000 pieces sold out, earning him an estimated $1.8 million. Yuga Labs said this was ill-gotten profit.

*Crawley Town FC is to make its third kit an NFT exclusive. Fans wishing to purchase the kit will have to also buy the corresponding NFT.

*The League Two club was acquired by cryptocurrency firm WAGMI last year.

*The number of Bitcoins held on centralised exchanges has dropped to the lowest level since 2018. The Glassnode data shows how users are reacting after crypto lenders including Celsius and Babel Finance halted withdrawals.

*In recent weeks the sales volume on Ethereum-based NFT marketplace X2Y2 has surged past OpenSea, according to data from DappRadar.

*Cryptocurrency exchange Binance is launching a platform for VIP and institutional users Binance Institutional. It will reward users with more discounts and other privileges.

*The overall market cap of the more than 20,000 coins is at $951.9 billion at the time of writing (7am UK), up from $937.2bn on Friday morning.

*Market leader Bitcoin the original cryptocurrency created by the mysterious Satoshi Nakamoto gained $60 over the last three days to $21,185. BTC is 6% up in a week.

*Ethereum, the second most valuable crypto coin created as a decentralised network for smart contracts on the blockchain added $75 to around $1,215. ETH is 13% up over the course of a week.

 

BAYC Nazi like logo Crypto firm Yuga Labs responds to accusations of Nazi ties
Crypto firm Yuga Labs responds to accusations of Nazi ties 3

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