Yuga Labs to Replace Logo That Apes a Kids Drawing Guide

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Yuga Labs to Replace Logo That Apes a Kids Drawing Guide
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It appears the logo of the Yuga Labs-owned Bored Ape Kennel Club (BAKC) NFT collection was used without a license or the permission of its artist. First noticed by an eagle-eyed Twitter user on Friday, the likeness was then acknowledged by both the image’s original creator, Easy Drawing Tutorial, and Yuga Labs co-founder Greg Solano (“Gargamel” before his identity was revealed one year ago.)

Yuga Labs released the BAKC collection in June 2021 and then applied to trademark its logo in November, but Easy Drawing Tutorial’s official Twitter had posted an image of a nearly identical wolf skull three months earlier, in April 2021. 

Easy Drawing Tutorial is a resource that provides “non-artists” step-by-step instructions to create cartoonish drawings of various animals and objects. 

There is explicit language in Easy Drawing Tutorials’ terms and conditions that prohibit the commercial use of its proprietary content. 

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According to Solano, Yuga Labs had hired a freelancer to create the logo’s design, adding that Yuga Labs has reached out to both the freelancer in question and Easy Drawing Tutorials as part of the investigation into the alleged violation of intellectual property.

Solano also stated that the logo would be removed and replaced on the project’s website and that Yuga Labs would ask marketplaces to do the same. 

Both Yuga Labs and Easy Drawing Guides declined Decrypt’s request for further comment.

Yuga’s NFT market success 

The Bored Ape Kennel Club NFT collection was released for free to any wallet holding a Bored Ape. Solano stated that the “collection was meant from the start to be about raising money for charity,” and that it had raised more than $1 million for animal charities.

But according to the project’s website, the 2.5% royalty fee on secondary sales from only the first six weeks would be donated, meaning Yuga Labs has been profiting off the BAKC collection since roughly August 2021.   

With a market capitalization of over $115 million, the BAKC collection is one of several NFT collections created by Yuga Labs—most notably the Bored Ape Yacht Club collection, which has a market cap of over $1.2 billion, and the Mutant Ape Yacht Club, with a roughly $500 million market cap, per CoinGecko.

A Yuga Labs pitch deck that was leaked in November reveals that the company made a net revenue of $127 million in 2021 and a budgeted net revenue of $455 million in 2022.

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