In the cryptocurrency space, which can be traced back to the land of Satoshi Nakamoto (中本 Satoshi), the masked founder of the space, asking for personal information is often considered a deal breaker.
So when Bored Ape Yacht Club perhaps the world's most famous NFT collection, dropped a Associations In their Twitter An account that asks people to provide passport details, real names, addresses and even selfies has, unsurprisingly, met with strong opposition.
"BAYC is now asking people for KYC ……" Tweets Cryptocurrency influencers accessed by theweekend.eth. "This is the Boring Ape inventory."
The lack of detailed information about the programs that collect personal information exacerbates the negative sentiment towards Bored Apes.
"I think the main reason for this strong opposition is that most people in the NFT space are in favor of the new foundation of web3. That's the basis of web2," OKHotshot, an on-chain analyst who helped expose the Naruto NFT scam, told The Defiant. "You sell your data and you don't know what you're getting. We really don't like that."
The downward price trend may also have created a relentless environment for KYC news. According to Dune Analytics, the floor price of BAYC NFT has fallen 35% to 76 ETH as of March 11 since its high of 116.9 ETH on February 1 Dashboard .
When orangutans move higher, perhaps the program can convince people to submit their information without hesitation, but a bearish environment tends to make people skeptical.
BAYC Base Price
Following the incident, Yat Siu, co-founder of Animoca Brands, released a Topics on Twitter .
He said neither Animoca nor BAYC has access to users' personal information. According to Siu, third-party calls to Blocking Passes "Destroy the data after verification and store only anonymous representations of your data."
However, Sui does not explain why KYC is required in this case.
Users expecting games or alternative tokens from BAYC will be disappointed, as the brand denies that the stealth project is directly related to any of the companies. Having ruled out these two options, OKHotshot believes the standard on offer is very high. "It must be a special thing if you have to give up your privacy for this," said the analyst.
Regardless of KYC requirements, the upcoming program will undoubtedly attract a lot of eyeballs.
If they under-deliver on this, they will be forgotten for weeks," said OKHotshot, who went on to say that if the project disappoints, it will be the new Pixelmon, referring to the NFT collection that turned into a fiasco that was ridiculed when it was revealed.