- A judge dismissed counterclaims by artists Ryder Ripps and Jeremy Cahen, ordering them to pay $9 million in damages to Yuga Labs.
- The ruling comes after Ripps and Cahen created unauthorized versions of Bored Ape Yacht Club NFTs, violating copyright laws.
- Ripps and Cahen must destroy any infringing NFTs they own and hand over related social media accounts and smart contracts.
In a notable legal development, the creative duo Ryder Ripps and Jeremy Cahen faced a significant setback in their legal battle with Yuga Labs, the originators of the Bored Ape Yacht Club (BAYC) series. The court has ordered them to pay nearly $9 million for copyright infringement, marking a decisive moment in the ongoing dispute over digital art rights.
Legal Battle Intensifies
This financial penalty comes after Ripps and Cahen launched a series of non-fungible tokens (NFTs) that closely resembled those of BAYC, leading to accusations of copyright infringement from Yuga Labs. Their collection, dubbed Ryder Ripps BAYC, sparked considerable controversy upon its release in May 2022.
Ripple Effect in the NFT World
The court’s decision not only emphasizes the copyright laws governing digital assets but also sends a clear message about the serious consequences of intellectual property violations in the burgeoning NFT market. The artists are now tasked with destroying any remaining unauthorized NFTs and transferring all digital assets associated with their collection to Yuga Labs.
Despite the setback, Ripps and Cahen are not backing down. They have expressed their intention to challenge the court’s decision, hinting at a prolonged legal struggle. Their case has drawn attention to the intricate balance between creativity and copyright in the digital age, highlighting the need for clear guidelines in the rapidly evolving world of NFTs.
