SNEAK PEEK
- Playing card brand Bicycle bought a $187,000 BAYC NFT.
- Over the past 1.5 years, the Bored Ape Yacht Club has drawn a variety of celebrities and brand owners.
- Bicycle plans to create physical playing cards using the NFT.
137-year-old playing card brand Bicycle under parent company Cartamundi announced a $187,000 BAYC NFT purchase with plans to create and sell physical playing cards inspired by the artwork. In order to perhaps produce more NFT-themed cards, the brand also hopes to collaborate with other Ape owners.
The future of the internet and Web3 is being shaped by groups like the Bored Ape Yacht Club, according to Masha Ievseieva, VP of Brand Commercialization at Cartamundi Global. The most inventive people in the field are the holders who are members of the community. The forthcoming playing cards from Bicycle are not the result of a formal licence arrangement with the NFT brand or its inventor, Yuga Labs, like many other Bored Ape-themed goods.
Instead, the creation of derivative works of art and products, including their sale to the general public, is automatically granted permissive rights to holders of Ethereum NFTs. Bored Ape 1227 was acquired by Bicycle in June for slightly over 103 ETH, or around $187,000 at the time.
According to publicly available blockchain data, the crypto payments company Moonpay, which has worked with celebrities like Jimmy Fallon and Post Malone, reportedly handled the transaction.
However, Bicycle isn’t the first major brand to invest in a BAYC NFT. The beverage company, Arizona Iced Tea also bought an NFT in 2021 but didn’t follow yuga Labs’ licensing restrictions. In total, Bored Ape Yatch Club has generated about $2.5 billion in trading volume to date from its original collection.
