Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) and other popular NFT collections, has forwarded “royalties” to a deposit address linked to FTX US, according to Blockchain Intelligence firm Arkham Intelligence.
Arkham highlights the fact that Yuga Labs has sent more than $250,000 in value over the past two months to 0xAAe7aC476b117bcCAfE2f05F582906be44bc8FF1, an address that Arkham, as well as blockchain intelligence firm Breadcrumbs, has associated with FTX US.
FTX USA was went bankrupt in November 2022 for his role in the crimes of Sam Bankman-Fried and his co-conspirators.
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These “royalty payments,” also known as “creator payouts,” represent a portion of sales from NFT collections that sellers have decided to return to the creator. These payments have been at the center of a battle between various NFT marketplaces and NFT collections, with Yuga Labs initially restricting trading of its NFT collections to marketplaces that forced this payment.
More recently they have moved away from this decision and made this payment optional.
It is not clear how these continued deposits will affect Yuga Labs’ claim in the FTX bankruptcy process.
Protos has reached out to Yuga Labs for comment on this issue and will update if we hear back.
