The legal battle between Yuga Labs and artist Ryder Ripps alongside Jeremy Cahen has concluded with a settlement over the alleged unauthorized use of Yuga’s non-fungible tokens (NFTs) from the Bored Ape Yacht Club collection. The two-year-long dispute centered on whether Ripps and Cahen’s project, which incorporated Bored Ape imagery, crossed into trademark infringement territory rather than remaining as satire.
Court documents filed in California federal court indicate that proposed orders would have permanently prohibited Ripps and Cahen from using Yuga’s trademarks and images. However, the settlement terms remain confidential.
The Bored Ape collection by Yuga Labs gained significant recognition during the peak of the NFT market. The lawsuit was initiated in 2022 when Yuga accused Ripps and Cahen of profiting by selling tokens similar to their own under the RR/BAYC NFT collection, allegedly causing confusion among buyers. On the other hand, Ripps and Cahen defended their project as a satirical commentary on the original Bored Ape Yacht Club.
Initially, a district judge ruled in favor of Yuga, awarding nearly $9 million in damages and fees. However, an appeals court later reversed this decision, determining that it should be up to a jury to decide if buyers were truly misled. The settlement now circumvents the need for such a trial.