Non-fungible tokens (NFTs) are a trend that has swept the internet by storm. If you know anything about this craze, then you’ve most likely heard about the Bored Ape Yacht Club.
True to their name, the Bored Ape Yacht Club is an NFT collection that looks exactly like you’d imagine them. People on social media have described them in many ways, ranging from “absurd” to “strange but endearing.” No matter what you think of them, the Bored Ape Yacht Club has become a status symbol.
Many celebrities, including Justin Bieber and Eminem, have bought NFTs from this seemingly bizarre collection. Once such a collection becomes popular to the point of celebrities getting involved, this means the value of each NFT gets a massive increase, and this is what happened to the Bored Ape Yacht Club.
The token creators were anonymous and were going by the names of “Gordon Goner” and “Gargamel.” Very recently, that changed when Katie Notopoulos investigated the origins of this unique NFT collection and tied the creators to the names of Wylie Aronow and Greg Solano.
Their identities have sparked a massive debate about privacy on the internet. On one side, people claim that everybody has the freedom to express who they are on the internet and at the same time to prevent other people from seeing details about themselves that they prefer to remain hidden. Privacy supporters take this further by saying this is important for controversial figures who may get hurt when their details are revealed.
On the other hand, people claim that you take away your right to privacy when creating a massively profitable online venture. Critics argue that once you start earning money, you need to be accountable for the business you are running, which includes having a person who should respond to controversy and scandals related to the brand.
Unfortunately, the Bored Ape Yacht Club falls nothing short of being involved in many scandals, ranging from allegations of racism to lack of adequate payment for the artists responsible for the artwork.
