Bored Ape Owners Now Can Rent Out Their NFTs To Brands!

Bored Ape Owners Now Can Rent Out Their NFTs To Brands!

A new NFT licensing marketplace that permits hodlers to rent out their Ape’s IP to brands has attracted hundreds of owners of Bored Apes.

According to the website “Boredjobs,” which was developed by blockchain accelerator Mouse Belt Labs, all 10,000 BAYC NFTs will be listed there for brands to peruse and “indicate interest in hiring for campaigns.” Without the different BAYC owners signing up and confirming ownership to browse offers, 10,000 Apes will obviously not be offered for hiring.

“The Bored Ape Yacht Club gave its owners a fantastic opportunity to utilize the IP rights of the NFTs they purchased. Unfortunately, they did not provide them with an instruction manual on how to put them to work. Bored Jobs is creating that instruction manual,” the announcement reads.

The platform has already received more than 200 applications from BAYC owners seeking to verify their ownership within a day of its introduction on June 29, according to Mouse Belt co-founder Patrick McLain, who spoke with Cointelegraph. Regarding the functionality of the platform, McLain said:

“We are simply adding a way to connect brands with Apes (currently, there is no easy way for the parties to message each other). Deal terms (or if there is even a deal), license terms, details, etc., will be 100% negotiated between the two parties.”

“A brand can hit HIRE on an ape, and we will bring the deal to the ape’s owner if both parties agree (and only if) the deal moves forward,” he added.

Contrary to many NFT initiatives, Bored Ape Yacht Club gives the owners the commercial rights, and hodlers are making creative use of them. Seth Green, a famous Hollywood actor, is utilizing his monkey as the lead in a new television program. Andy Nguyen, a businessman in the food industry and owner of BAYC NFT, also made the decision to open Bored & Hungry, a restaurant with a BAYC concept, in Long Beach, California, in April.

Even a virtual metaverse band called KINGSHIP has been there since late last year, and the band members are represented by four BAYC avatars.

When asked how brands will use apes, McLain responded that it could be as “simple as a small business wanting to make an ape the face of their coffee brand” or as a component of extensive marketing efforts from huge businesses:

“[It] could be a large box retailer running a marketing campaign aimed at that demographic, could be a video game company that wants to ‘drop’ pre-made characters into their game for a simple rate, could be a musician who doesn’t own an ape but wants to partner with one, etc.”

McLain also mentioned that, now that the concept has taken off, Mouse Belt will grow to support other top-tier NFTs projects.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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