Animoca Brands Chair buys BAYC and Cool Cats NFT to support Artist Royalty

Various exciting things are happening in the NFT Land, with ape coin staking coming soon Along with the Horizon Labs. Yat Siu, the chairman of Animoca Brands, the software company, has two new additions to his collection. 

Excited to announce two new additions to my collection .@BoredApeYC #2072 and .@coolcatsnft #7753 so many exciting things happening in #NFT land with @apecoin staking coming soon with @HorizenLabs and @CoolCatsFC coming with @OneFootball #NFTs #openmetaverse #interoperability pic.twitter.com/m6yoa8zNkp

— Yat Siu (@ysiu) November 15, 2022

An active person in the NFT Marketplace, he has added Bored ApeYC and Cool Cats NFT to his digital asset collection. Additionally, the Cool Cats are collaborating with Onefootball, the ultimate football media platform. 

He further specified that he purchased these characters and added them to his collection through the OpenSea network. The Brand established that through this purchased these collections by adhering to the artist’s royalty terms. 

Animoca Brands have shown immense support towards the revolution of supporting artists through royalty-based payments. The two networks together intend to spread awareness about decentralizing the protection of royalties and respecting the Web3 Ethos. 

Through this purchase, Animoca Brand is collecting royalty-based NFT and introducing royalty licenses to legalize royalty-based transactions. Through this, marketplaces will also become legally liable for unpaid royalty licenses, and each sale with an unpaid license would create legal liability for the buyer. Animoca Brands, in the end, does not only intend to include itself as a supportive platform for royalty-based transactions but also wants to legalize its support by creating a liability.

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