Yuga Labs Files New Lawsuit Against Ryder Ripps
Yuga Labs, the team behind the Bored Ape Yacht Club NFT collection, has filed a new lawsuit against digital artist Ryder Ripps. They are seeking $1.7 million in damages from Ripps’ RR/BAYC NFT project.
Key Points:
- Yuga Labs is a digital asset incubation studio known for various NFT collections.
- This is not the first lawsuit filed by Yuga Labs against Ryder Ripps.
- Ryder Ripps’ RR/BAYC NFT collection features dog skull-themed NFTs similar to Bored Ape Yacht Club.
- Earlier this year, a U.S. District Judge ruled in favor of Yuga Labs on trademark infringement and cybersquatting.
- Yuga Labs is now demanding the majority of profits from RR/BAYC sales and additional damages.
Yuga Labs Demands $1.5M From RR/BAYC Profit
Despite winning the previous lawsuit, Yuga Labs is pursuing further action and demanding $1.5 million in profits from Ryder Ripps’ RR/BAYC NFT sales.
Hot Take:
The ongoing legal battle between Yuga Labs and Ryder Ripps highlights the importance of protecting intellectual property in the crypto world. As the NFT market continues to grow, disputes over ownership and trademark infringement may become more common. This case sets a precedent for the enforcement of trademark rights within the digital asset space.
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