BAYC NFT Holders Can Rent Out Their Bored Apes to Brands, Here’s How
The holders of Bored Ape Yacht Club (BAYC) NFTs can now earn money by loaning their assets to different brands. Recently, blockchain accelerator Mouse Belt Labs launched an online marketplace called ‘Boredjobs’. Holders of BAYC NFTs can list their Apes on Boredjobs so that brands would know they are up for hirings. Essentially, BAYC owners will be able to keep their NFTs while also making extra money by lending them to companies for features and endorsements.
“The Bored Ape Yacht Club gave their owners an amazing opportunity to utilise the IP rights of the NFTs they purchased. What they did not give them is an instruction manual on how to put it to work. We are creating that instruction manual,” the website of Boredjobs read.
The BAYC NFT series has a total of 10,000 variations of cartoonised, bored-looking apes. Snoop Dogg, Justin Bieber, Madonna, and Jimmy Fallon among several other celebrities possess BAYC NFTs.
In March, the floor price of BAYC NFTs for instance, soared by over 25 percent. The development was triggered after BAYC parent Yuga Labs acquired two other popular NFT collections — CryptoPunks and Meebits.
Unlike many NFT projects, Bored Ape Yacht Club provides the owners with the commercial rights. Hence, as of now, hundreds of BAYC owners have already signed up and confirmed their ownerships to view offers from brands, a report by CoinTelegraph said.
By allowing brands to rent pre-owned BAYC NFTs, the platform is looking to drive Web3 engagement and adoption via mainstream media.
Meanwhile, NFT creators can see this as a new income opportunity as well as a window to show their work to the global audiences.
“We are on a mission to expose popular NFTs to the world by injecting them into pop culture whenever possible. By standardsing the legal, communications, and deal flow process we believe we can enable both brands and NFT owners to unlock new potential,” the Boredjobs website added.
In the coming days, Boredjobs is looking to open up similar opportunities for the holders of Mutant Apes, Gutter Cats, and Crypto Punks NFTs.