Yuga Labs, the creator of the Bored Ape Yacht Club, or BAYC, teased about the new partnership with blockchain game publisher Animoca Brands on Twitter on Thursday. It’s worth noting that no details about the project have been revealed yet, and users who signed up for it through the Know Your Customer, or KYC, Verification Process have expressed their concerns on Facebook. Social Network.
BAYC simply tweeted out a link to a website where interested fans could sign up in the hopes of being approved to participate in whatever is “in production.” To register, users must connect to an Ethereum wallet, provide a photo of their license, passport or other identification as well as proof of their home address, and take a headshot on the device’s camera. to which they are registered.
Fuck it, again.https://t.co/1KlPpVjWkb
– Bored Ape Yacht Club (@BoredApeYC) March 10, 2022
Both BAYC and Animoca Brands clarified on Twitter that they were not referring to the NFT Bored Ape monetization game they announced in December. The only other information provided was that “this work is already under construction. over the past seven months,” according to BAYC. Animoca Brands will be reported disclosure “first phase.”
Members of the crypto community are wary about agreeing to KYC requirements without knowing exactly what they are signing up for. One user posting under the handle @cr0ssETH tweeted, “Devs, if the IRS has taken you hostage, please blink twice,” indicating the possibility that any personal information could fall into the hands of a third party. .
The twitter account BAYC just tweeted a fill out form asking for your ID/Passport & eth/home Address. Developers if the IRS holds you hostage, please flash twice.
– cr0ss.eth (@cr0ssETH) March 10, 2022
In addition to the sensitivities surrounding KYC, the Terms & Conditions document has been criticized for causing users to agree to “unrestricted” use of “all or any part of your User Content.” “
I usually root on the sidelines for BAYC, but does anyone on your team actually read your partner T&C? Are you driving people to KYC and do they agree to these terms? I really think we’re trying to get rid of a website that exploits people’s IPs without their consent. pic.twitter.com/6H2C6szUmD
– Sebssant (@SebsDead_) March 11, 2022
Another user under @maz_nf has warned that cryptocurrency will soon turn into a “government regulated business”, acknowledging the inevitability of the NFT community in regulatory and legal compliance. reason to really become mainstream.
We’re all crying for people to confirm us three years ago… well ♂️ here we are. Cryptocurrencies, NFTs and whatever comes next will be turned into what we all fear the most… a Government Regulator with a seat belt and smiling at the camera, see you on the Stars Fire https://t.co/3c8aWo3lBU
– MachG (@maz_nf) March 11, 2022
These views have sparked debate over whether NFTs should be regulated and whether KYC should be integrated into NFT markets. Recently, OpenSea has been hit by phishing attack and hacks leave NFT owners very vulnerable. In December 2021, Art gallery owner’s Bored Apes collectionworth $2.2 million, was stolen from his hot wallet.
https://cointelegraph.com/news/yuga-labs-faces-user-backlash-for-under-wraps-kyc-restricted-project Yuga Labs Faces User Backlash As KYC Restricted Project Not Ended