06-10-2022 icon

NFT holders are liable to make millions through intellectual property rights, owner of Apocalyptic Apes says

By Lucy Adegbe

Bill Starkov, the originator of the Apocalypse-themed ape NFT community known as Apocalyptic Apes has affirmed that holders can make lots of money from licensing patent rights on individual NFTs. 

The most notable way of earning from the non-fungible token space is by flipping, simply put buying and reselling at a higher rate for profit. However, there are other paved opportunities as the market is being explored due to its development. 

According to a CoinTelegraph chat with the Apocalyptic Apes originator and a member of the Bored Ape Yacht Club, Bill Starkov, “Holders can generate thousands of dollars by licensing out their apes for commercial use.” 

He also noted that holders will earn millions in the nearest future as promising PFP NFTs will evolve as the new Oprah and Jimmy Kimmel. 

Starkov believes that for such huge earnings to become a reality, holders may have to hold on to their non-fungible tokens and let the project behind it advance thoroughly. 

There have been a lot of uproars related to copyrights, IPs, and NFTs ownership. Seth Green, an American actor was faced with the only solution of buying his stolen BAYC NFT back in May after it was stolen and sold off to a new owner. A law professor cited how Greene could be sued as buyers are legally covered as new IP owners whenever they unwittingly acquire a stolen unit. 

The decentralized self-reliant company, Spice DAO received mocking comments in a January tweet about proposals to create an animated version of DUNE. Many tweets pointed out that buying a rare copy of the book does not imply owning its copyrights. According to law, the originators of the work remain the copyright owners.