Animoca Brands has announced signing a licensing agreement with ALTAVA Group, allowing the Group to use the Bored Ape Yacht Club non-fungible tokens in their portfolio. Per the licensing agreement, ALTAVA Group will leverage the utilities of the BAYC NFT collection to advance its golf-themed project that has been titled Bored Ape Golf Club. It is alternatively known as BAGC.
Animoca Brands is an investor in ALTAVA Group. They have now agreed to license the IP of BAYC NFT to be used in the derivative NFT collection that centers around the same Apes but in a golf-related digital structure.
All the non-fungible tokens that have been licensed to the Bored Ape Golf Club digital collection will now be assigned to a special class where they will be seen sporting outfits that carry the brand tag of The Sandbox and Animoca Brands.
Animoca Brands has shared the list of utilities that are expected to come with the Bored Ape Golf Club. These include:
- Access to exclusive golf clubs in Turkey, Vietnam, and Korea
- Custom physical IRL BAGC-branded merchandise for the sport
- Services for management, ownership of intellectual property, & licensing
- Utility of Bored Ape Golf Club NFTs in The Sandbox
End-users are surely looking up to this development. One specific reason is that they currently do not have the right to monetize their intellectual property. However, ALTAVA has recognized the drawback and has established a dedicated team to take care of IP monetization. This will be done on behalf of the NFT holders.
ALTAVA Group is a luxury brand specializing in the fashion segment for the metaverse. It is based in Singapore but has been able to spread its wings across the world. Some of the locations where the offices of ALTAVA can be found are London, Tokyo, Seoul, and Paris. ALTAVA Group stands out in the metaverse among other players by allowing participants to adopt a high-fidelity avatar and then express themselves to the best of their abilities.
Plus, they can find ways to interact with others and discover a lot more in ALTAVA’s metaverse.
World of You, or WOY, is a metaverse run by ALTAVA where consumers can connect with luxury brands that exist in the real world and the virtual world. While there is nothing that speaks about bridging brands with themselves, they can still ride on the competition to get the maximum number of visitors. This enables them to raise brand recognition and have a better connection with the community.
Animoca Brands works in the digital entertainment, gamification, and blockchain sphere with the core focus on advancing the rights of digital properties. Thereby continuing to contribute to the establishment of something that everyone’s been waiting for – an open metaverse.
Brands hold a significant interest in its subsidiaries, including, but not limited to, The Sandbox, GAMEE, Blowfish, Life Beyond Studios, and Be Media.
The licensing agreement has been defined as a major milestone for ALTAVA Group. It now empowers them to advance Bored Ape Golf Club by utilizing the NFTs of Animoca Brands.