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Seth Green Pays $300K to Recover His Stolen Bored Ape Yacht Club NFT – Decrypt

Crptoz by Crptoz
June 10, 2022
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The actor is reunited with Seth Green Bored Ape Yacht Club NFT he lost in a phishing attack last month, a . According to Buzzfeed News report good. Green reportedly paid 165 Ether (over $295,000 at current prices) for the NFT when it was sold to a collector.

Altogether, Green’s four NFT Over $300,000 was stolen last month, including the boredom app NFT #8398, which not only cost him some $200,000 to buy, but was also supposed to star Greene’s upcoming TV show “White Horse Tavern”.

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During an appearance on Thursday Twitter Space Chat, Green confirms that NFT is “home.” Transaction records indicate that funds were sent from a wallet controlled by Green to an NFT collector known as “Mr. Cheese” and “Darkwing84” through the crypto escrow platform NFTTrader. The collector claimed to have purchased NFTs “in good faith” when Green was scammed while trying to create NFTs on a fake site; Green at the end of May intimidated Legal Action Against DarkWing84, First confirm this He had contacted the collector.

Currently, NFT marketplace OpenSea has omitted a flag reporting Bored App #8398 for “suspicious activity”, which means that the NFT is frozen and cannot be bought or sold on the market; Hence why Green turned to NFT Trader to transact with Darkwing84.

bored app nft and ip

While it is not immediately clear what persuaded Darkwing84 to return NFT to its initial owner – money aside – the events surrounding the story raised questions about the intellectual property (IP) rights conferred by NFT ownership.

The licensing rules applicable to the Bored Ape Yacht Club NFT series state that while Era Labs, the creators of the collection, owns the copyright to the brand, the company grants the individual NFT owner a comprehensive license to use their image, including purchases An unlimited, worldwide license to use, copy and display the Art. The owners of NFT have already used those licensing rights to create Bored App-branded content and businesses, ranging from restaurants to bands.

However, those rules do not account for the NFTs that were stolen and later resold, leading to speculation that Green would no longer be able to proceed with his planned TV show.

actor self was convinced That since his NFTs would be considered piracy art, whoever bought it “would not be legally entitled to exploit the underlying IP.”

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