The popular Hollywood actor Seth Green is facing new trouble after losing his BAYC NFT since the future of his next show, which features the NFT, is uncertain.
A few days back, Seth Green lost 4 NFTs in a phishing attack. The NFTs were BAYC #8398, MAYC #9964, MAYC #19182, and Doodle #7546. Green’s stolen Bored Ape was later sold to user DarkWing84 for $268,000 by the hacker.
Characters from Green’s NFT collection appear in his upcoming show ‘White Horse Tavern’, and without those digital assets under his control, Green’s ability to create derivative work of characters is questioned.
Due to the obvious license laws that govern the BAYC and MAYC NFT series, the matter is complicated.
Yuga Labs claims that holders of the NFT have an unlimited, worldwide license to use, copy, and exhibit the artwork they have purchased.
This license permits the owners to make derivative works based on the Bored Ape IP, such as the BAYC-themed restaurant ‘Bored & Hungry’ in California.
The BAYC license does not account for NFTs acquired in phishing attacks and sold on the secondary market. This means that the person who purchased Green’s NFTs is now considered the purchaser under the licensing regulations.
This could mean that Green’s NFT-themed show, White Horse Tavern will be scrapped if he no longer has a license to the NFTs’ intellectual property.
Green unveiled the White Horse Tavern trailer featuring BAYC NFT #8398 at Gary Vee’s Web3 conference VeeCon.
“I bought that ape in July 2021, and have spent the last several months developing and exploiting the IP to make it into the star of this show. Then days before — his name is Fred by the way — days before he’s set to make his world debut, he’s literally kidnapped,” Green told Vaynerchuk.
Many speculate that the user DarkWing84 who now owns the Bored Ape might sue Green if the actor exploits the intellectual property without authorization.
BuzzFeed published a story suggesting that Green might no longer be able to run the show, to which Green responded by claiming that the case would go to court but first he wanted to meet the user DarkWing84.
The two hours between the NFT being taken from Green’s wallet and being sold on OpenSea could be essential in determining whether DarkWing84 purchased the NFT knowing it had been acquired illegally from Green.