Yuga Labs Prevails Against Copycat NFT Collection in Court Battle
A federal judge has ruled in favor of Yuga Labs, the creator of the Bored Ape Yacht Club (BAYC) NFT collection, in a trademark infringement case against Ryder Ripps and Jeremy Cahen over their copycat RR/BAYC NFT collection. Despite the defendants’ claim that their project was a protected parody, the court awarded Yuga Labs an injunction and damages, marking a landmark victory for the Web3 industry. The defendants argue that the lawsuit is a frivolous attempt to silence artistic criticisms, but Yuga Labs accuses them of scamming buyers with false NFTs. The case has attracted attention from the crypto and art communities, with some speculating that it could have unforeseen consequences for Yuga Labs. Yuga Labs plans to pursue monetary damages and injunctive relief in a future trial.
Clever Robot News Desk 24th April 2023