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  <p class="is-style-lead">Non-fungible token (NFT) collection Bored Ape Yacht Club (BAYC) will be launching a new intellectual property tool with an on-chain verification solution for builders within the BAYC community.&nbsp;</p> 
  <p>Bored Ape Yacht Club, in partnership with blockchain protocol SaaSy Labs, will debut a new solution called Made by Apes “later this month.” The solution is aimed to enable BAYC members to seamlessly verify on-chain projects they are building while they can also have an official directory of all their creations.&nbsp;</p> 
  <p>While there was no further information on how the on-chain verification process will work, Greg Solano, co-founder of Yuga Labs — the company behind the <a href="https://crypto.news/tag/nft/" rel="noopener noreferrer nofollow">NFT</a> collection BAYC — believes that the new IP tool will benefit community members.&nbsp;</p> 
  <p> You might also like: <a href="https://crypto.news/yuga-labs-wins-trademark-case-against-bored-ape-interloper/" rel="noopener noreferrer nofollow"> Yuga Labs wins trademark case against Bored Ape interloper </a> </p> 
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     <p lang="en" dir="ltr">As much as folks in the club have been building with their IP, there hasn't been an easy, on-chain way to verify these items or an official directory for everything apes and mutants are making. Team has worked up a solution with the folks over at <a href="https://twitter.com/SaaSyLabs?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@SaaSyLabs</a> that we're excited to… <a href="https://t.co/p573extFY4" target="_blank" rel="noopener noreferrer nofollow">https://t.co/p573extFY4</a></p>— Garga.eth (Greg Solano) (@CryptoGarga) <a href="https://twitter.com/CryptoGarga/status/1678540182272765955?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 10, 2023</a> 
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  <p>BAYC members reacted positively to the news, with SaaSy Labs founder Richy Rich <a href="https://twitter.com/richyrich/status/1678542898634141698?t=r9ACU6Dn0pxPSVk1WaMtGg&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">stating</a> that the project was a result of hard work.</p> 
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   <p>“A little overwhelmed at the moment to see what we’ve been working so hard on come to fruition and see the positive response. Everyone asked why IP matters and I think this initiative will substantiate the value of IP. Excited to see what everyone builds when live.”</p> <cite>SaaSy Labs Founder, Richy Rich</cite> 
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  <p>The on-chain verification solution is set to debut in July, with no exact date provided. Meanwhile, the latest development comes as the value of the BAYC NFT collection <a href="https://crypto.news/bored-ape-yacht-club-nft-collection-plummets-over-90-from-600k-peak/" rel="noopener noreferrer nofollow">nosedived</a> 90% from its peak.&nbsp;</p> 
  <p> Read more: <a href="https://crypto.news/nft-thefts-decreased-in-june-data-shows/" rel="noopener noreferrer nofollow"> NFT thefts decreased in June, data shows </a> </p>
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Bored Ape Yacht Club to unveil new IP verification tool

crypto.news

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