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NFTs were introduced to the world to help solve the illegal use of intellectual property and protect artists — the very thing Yuga Labs has been accused of doing. The iconic wolf skull logo of Bored Ape Yacht Club (BAYC), Yuga Labs’ premier nonfungible token (NFT) collection, was allegedly illegally trademarked without proper licenses. The image was originally released by a company specializing in drawing tutorials for children and beginners. NFTs were introduced to the world to help solve the illegal use of intellectual properties and protect Artists — the very problem Yuga Labs has been accused of doing. Crypto Twitter member and NFT artist @Jdotcolombo came across a post from April 5, 2021, in which Easy Drawing Guides advertised “an easy step-by-step drawing tutorial” for a wolf skull . Website showing time stamp of the art's release. Source: EasyDrawingGuides.com The art displayed by the company closely resembled BAYC’s official logo, which initially raised suspicion of wron...

Over the past month, Apecoin ( APE ) has almost doubled its valuation from its recent bottom. Cryptocurrency Analysis firm Santiment indicated that one should look at the on-chain status when an asset jumps over 75% in value in six weeks. The Analysis firm has shared some of its findings in a recent blog shared on its website. 🐵 When an asset like #Apecoin jumps +75% in value in 6 weeks, it's worth looking into its on-chain status & many polarized opinions. Our latest insight covers $ APE 's active addresses, network growth, whale behavior, & the $ APE staking contract itself. 👀 https://t.co/40lxcl2Fs5 pic.twitter.com/OwT88E7j7Z — Santiment (@santimentfeed) January 31, 2023 According to Santiment, there are several bearish divergencies on some of Apecoin’s on-chain metrics. Firstly, the firm notes the difference in price and the daily active addresses. While the asset’s price has increased, the number of daily active addresses has decre...