Yuga Labs has reached a settlement in its legal battle against artists Ryder Ripps and Jeremy Cahen regarding their RR/BAYC NFT collection, which Yuga claimed infringed on its Bored Ape Yacht Club (BAYC) trademarks. This resolution concludes a two-year dispute that centered on whether the artists’ work constituted legitimate satire or crossed into trademark violation.
The settlement, filed in a California federal court, includes proposed orders that would prevent Ripps and Cahen from using Yuga’s trademarks and imagery in the future. However, the specific terms of the agreement have not been made public.
The Bored Ape collection gained immense popularity and recognition during the NFT market boom, prompting Yuga Labs to file suit in 2022. The company accused Ripps and Cahen of creating and selling imitation tokens that misled potential buyers, allegedly earning millions in the process. In defense, the artists maintained that their project was intended as a satirical critique of the original Bored Ape collection.
Initially, a district judge ruled in favor of Yuga Labs, awarding nearly $9 million in damages. However, this decision was later overturned by an appeals court, which determined that a jury should assess whether buyers were genuinely deceived. The settlement now circumvents the need for that jury trial.
Yuga Labs has settled its lawsuit against artists Ryder Ripps and Jeremy Cahen, concluding a two-year dispute over alleged trademark infringement related to NFTs. The settlement prevents the artists from using Yuga's trademarks but does not disclose specific terms.