KYC registration is required for a collaboration between Bored Ape Yacht Club and Animoca Brands. This has sparked outrage over centralization, with many stating that they will not register.
For its association with Animoca Brands, it appears that the Bored Ape Yacht Club will require KYC registration. The official Twitter account announced a new Animoca Brands launch that would necessitate KYC registration.
Some customers have also gotten a document requesting personal information, such as their address and driver’s license.
This KYC registration will be available for only two weeks. Although a website has been developed for the collaboration, it is unclear what the collaboration entails. Users will want to be a part of Bored Ape Yacht Club, despite the fact that it “doesn’t like KYCs either.”
Animoca Brands is a Hong Kong-based game publisher that specializes on blockchain-based games. It is developing economies based on the concept of “play to earn.” The crypto community has reacted angrily to the news, with many stating that they will not register for the launch if KYC is required. They argue that it violates the web3’s trustless principles.
Some argue that this is simply a means for authorities to keep an eye on the market. Others say the problem is that it is not made clear what they are signing up for.
With only a few hours since the announcement, the full power of hatred is likely to be felt in the coming days. Governments, on the other hand, are cracking down on crypto, especially NFTs.
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