Yuga Labs Sued Artist Denies Infringement Allegations
Key Points:
- Yuga Labs sued artist Ryder Ripps, and Jeremy Cahen, the founder of the NFT market Not Larva Labs, both rejected Yuga Labs’ charges of copyright infringement.
- A large number of Yuga Labs’ accusations that the defendants had copied the Bored Ape Yacht Club collection were disputed by the defendants.
They argue that Yuga Labs does not have the necessary copyright and that NFTs are technically impossible to replicate.
Yuga Labs, the makers of the popular Bored Ape Yacht Club NFTs, has filed a counterclaim in a case against an artist and his business partner who allegedly created copy versions of their NFT collection.
The firm filed the case in June, alleging artist Ryder Ripps and Jeremy Cahen, the founder of NFT marketplace Not Larva Labs, of stealing their NFT collections and undervaluing the original Bored Ape products. The couple has responded to the complaint, disputing the majority of the charges. According to the December 27 court filing, each of these NFTs is an entry on a decentralized digital ledger and wholly unique by design, making them both non-fungible and difficult to reproduce.
Ripps and Cahen say that their rendition on the BAYC collection, dubbed RR/BAYC, does not infringe on copyright. Furthermore, they claim to have “applied conceptual art to challenge hateful imagery” that Yuga Labs was using.
“Our action holds Ripps and Cahen accountable for their clear and flagrant misappropriation of Yuga Labs’ trademarks. They actively misled consumers and profited millions by utilizing Yuga’s intellectual property to market and sell imitation NFTs. As the lawsuit develops, we will continue to substantiate these facts.”
a spokeswoman said
Yuga Labs is also being sued on another front. California legal firm Scott + Scott filed a class-action lawsuit against the firm and over 40 individuals and corporations, alleging they were involved in “a huge scam” of secret celebrity endorsements to sell goods such as BAYC. A Yuga Labs representative refuted this.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
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Yuga Labs Sued Artist Denies Infringement Allegations
Key Points:
- Yuga Labs sued artist Ryder Ripps, and Jeremy Cahen, the founder of the NFT market Not Larva Labs, both rejected Yuga Labs’ charges of copyright infringement.
- A large number of Yuga Labs’ accusations that the defendants had copied the Bored Ape Yacht Club collection were disputed by the defendants.
They argue that Yuga Labs does not have the necessary copyright and that NFTs are technically impossible to replicate.
Yuga Labs, the makers of the popular Bored Ape Yacht Club NFTs, has filed a counterclaim in a case against an artist and his business partner who allegedly created copy versions of their NFT collection.
The firm filed the case in June, alleging artist Ryder Ripps and Jeremy Cahen, the founder of NFT marketplace Not Larva Labs, of stealing their NFT collections and undervaluing the original Bored Ape products. The couple has responded to the complaint, disputing the majority of the charges. According to the December 27 court filing, each of these NFTs is an entry on a decentralized digital ledger and wholly unique by design, making them both non-fungible and difficult to reproduce.
Ripps and Cahen say that their rendition on the BAYC collection, dubbed RR/BAYC, does not infringe on copyright. Furthermore, they claim to have “applied conceptual art to challenge hateful imagery” that Yuga Labs was using.
“Our action holds Ripps and Cahen accountable for their clear and flagrant misappropriation of Yuga Labs’ trademarks. They actively misled consumers and profited millions by utilizing Yuga’s intellectual property to market and sell imitation NFTs. As the lawsuit develops, we will continue to substantiate these facts.”
a spokeswoman said
Yuga Labs is also being sued on another front. California legal firm Scott + Scott filed a class-action lawsuit against the firm and over 40 individuals and corporations, alleging they were involved in “a huge scam” of secret celebrity endorsements to sell goods such as BAYC. A Yuga Labs representative refuted this.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Chubbi
Coincu News
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