Yuga Labs, the company known for Bored Ape Yacht Club, recently announced plans to give exclusive commercial rights to Moonbirds NFT holders. The original creators had made Moonbirds a part of Creative Commons 0 (CC0), raising questions about the legality of Yuga Labs' decision.

Legal experts believe Yuga Labs' move to grant commercial rights to Moonbirds NFT holders is not valid due to the collection being in the public domain. The company clarified that only new 3D versions of the Moonbirds artwork would have commercial rights

The controversy surrounding Moonbirds NFT collection and Yuga Labs' plan highlights the complexities of intellectual property in the cryptocurrency space. Despite the backlash, Yuga Labs stands by its decision to grant commercial rights only to new, 3D versions of the Moonbirds artwork.

The Moonbirds incident sheds light on the ambiguous nature of IP for NFT brands in the absence of clear legal guidelines. While Yuga Labs' move may boost the brand's value in the short term, it could potentially limit the broader engagement with the Moonbirds brand in the future.