Introduction
The Bored Ape Yacht Club (BAYC) land sale is one of the most highly anticipated events in the NFT space. However, in order to participate in the sale, you must first complete KYC (Know Your Customer) verification. This guide will provide you with everything you need to know about the BAYC land sale KYC process.
What is KYC?
KYC is a process of verifying the identity of individuals or companies. It is typically used by financial institutions to prevent money laundering and other financial crimes. KYC requirements can vary depending on the institution and the jurisdiction in which it operates.
Why is KYC Required for the BAYC Land Sale?
BAYC is required to implement KYC procedures in order to comply with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. These regulations are designed to prevent criminals from using NFTs to launder money or finance terrorism.
How to Complete the BAYC Land Sale KYC Process
The BAYC land sale KYC process is conducted by Thirdfort, a third-party KYC provider. To complete the process, you will need to:
The liveness check is a short video recording that you will need to submit to Thirdfort. The purpose of the liveness check is to ensure that you are a real person and not a bot.
Once you have completed the KYC process, Thirdfort will review your information and determine whether or not you are eligible to participate in the BAYC land sale.
What Happens if I Fail the KYC Process?
If you fail the KYC process, you will not be able to participate in the BAYC land sale.
Tips for Completing the KYC Process
Here are some tips for completing the KYC process quickly and easily:
Conclusion
The BAYC land sale KYC process is a necessary step to ensure that the sale is compliant with AML and CTF regulations. By following the steps outlined in this guide, you can complete the KYC process quickly and easily.
Q: How long does the KYC process take?
A: The KYC process typically takes 2-3 days.
Q: What happens if I lose my ID after I have completed the KYC process?
A: If you lose your ID after you have completed the KYC process, you will need to contact Thirdfort support.
Q: Can I complete the KYC process on my phone?
A: Yes, you can complete the KYC process on your phone. However, you will need to use a webcam to complete the liveness check.
A man tried to pass a fake ID during the KYC process for the BAYC land sale. However, the Thirdfort team was able to spot the fake ID and the man was disqualified from the sale.
Lesson learned: Don't try to pass a fake ID. The Thirdfort team is trained to spot fake IDs and you will be disqualified if you are caught.
A woman forgot to take her Zoom background off during the liveness check for the BAYC land sale. The Thirdfort team was able to see the woman's Zoom background, which was a picture of her in her bedroom. The woman was disqualified from the sale.
Lesson learned: Make sure that you take your Zoom background off before you complete the liveness check. The Thirdfort team will be able to see your Zoom background and you will be disqualified if you are caught.
A man tried to complete the KYC process with his dog. However, the Thirdfort team was able to spot the dog and the man was disqualified from the sale.
Lesson learned: Don't try to complete the KYC process with your dog. The Thirdfort team is trained to spot animals and you will be disqualified if you are caught.
Field | Required | Description |
---|---|---|
Name | Yes | Your full name, as it appears on your government-issued ID |
Address | Yes | Your current address, including street address, city, state, and zip code |
Date of birth | Yes | Your date of birth, in the format MM/DD/YYYY |
Nationality | Yes | Your nationality, as it appears on your government-issued ID |
Government-issued ID | Yes | A copy of your government-issued ID, such as a passport, driver's license, or national ID card |
Liveness check | Yes | A short video recording of yourself, holding your government-issued ID and blinking your eyes |
If you are planning to participate in the BAYC land sale, it's important to start the KYC process early. The KYC process can take 2-3 days, so it's important to give yourself plenty of time to complete the process.
To start the KYC process, visit the Thirdfort website.
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