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Seth Green Spends $260,000 to Recover His Lost NFT

Seth Green Spends $260,000 to Recover His Lost NFT

Now that the Bored Ape Yacht Club #8398 is back where it should be, Seth Green can rest easy.

Green, who is very interested in collecting non-fungible tokens, has had a busy month. He recently lost some of his NFTs because of phishing, which cost him hundreds of thousands of dollars. But that wasn’t what he was most worried about.

One of the stolen NFTs was a figure from the popular Bored Ape Yacht Club. This is a decentralized brand whose ape cartoon NFTs give the owner full control over their character. Owners of Bored Apes can use their apes for any kind of business, and Green was in the middle of making a TV show called “White Horse Tavern” about his monkey, #8398.

Green said when he lost the NFT in May,“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, just a few days before his international debut (his name is Fred), he is physically taken away.”

Green had to put his show on hold after the “kidnapping” because he no longer owned the NFT, which meant he no longer had the rights to the main character of the show. He has spent the last month pleading with the new owner of the ape online to give it back to him, but to no avail.

BuzzFeed News says that Green and Bored Ape Yacht Club #8398 are back together again (which broke the original story). The news that Green and his monkey were back together first appeared in public blockchain transaction records. Green later confirmed the story to BuzzFeed and said, “Fred is home.”

The transaction record shows that Green paid 165 ETH, which was the same as $260,000 at the time, to get his NFT back. Green will be able to keep building the “White Horse Tavern” because of the expensive shift. Since the NFT was stolen, the creator of “Robot Chicken” has always said that he never lost the IP rights to Fred the ape, but since there was no legal precedent for the new technology, he was in a legal limbo. He can now go back to the show without worrying about getting in trouble with the law.

About Humano

He is a freelance writer based in Turkey. He loves NFTs, football, film and technology.

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