Both individuals have been permanently barred from utilizing the Bored Ape Yacht Club (BAYC) identifier in any logos or trademarks, as indicated by a final court judgment issued on Friday.
Furthermore, US District Judge John Walter has mandated that they transfer any infringing intellectual property, including codes, passwords, and credentials, to Yuga Labs within two weeks.
They are also required to dispose of any remaining Ryder Ripps/BAYC NFTs in their possession or surrender them to Yuga Labs for destruction. As per the court order, Ripps and Cahen are obligated to cover approximately $7 million in legal fees stemming from the protracted lawsuit.
Continued Legal Battle Expected in NFT Drama After Yuga Labs’ Victory
The legal dispute surrounding NFTs is expected to continue, as Yuga Labs has achieved success in this groundbreaking case. However, Jeremy Cahen, known as “Pauly0x” on X, has stated that they are appealing the decision in the Ninth Circuit Court of California.
“Case is ongoing,” he added.
BREAKING
On a Saturday, The Federal Court has entered its final judgement against me in my case vs. YugaLabs.
Judgement Total: $9,112,496.50
(Note: My name is misspelled in the order)
We are appealing this outcome in the Ninth Circuit Court of California.
Case is ongoing. ✊ pic.twitter.com/fHcEsbBL6a
— PAULY (@Pauly0x) February 3, 2024
So, why is the Ryder Ripps/Yuga Labs case significant? It sets a precedent for protecting intellectual property and trademarks within the NFT and crypto markets. This case demonstrates that creators and companies can legally safeguard their intellectual property and trademarks, even in emerging and decentralized technological environments. Yuga Labs’ proactive measures against unauthorized NFT use underscore the importance of legal protection in the NFT market.
NFT Legal Battle Timeline: Ryder Ripps and Cahen vs Yuga Labs
In May 2022, Ripps and Cahen launched the Ryder Ripps Bored Ape Yacht Club NFT collection, accused of resembling Bored Apes and promoting Nazi symbolism by Ripps.
June saw Yuga Labs suing Ripps and his associate for creating and promoting “copycat NFTs” that devalued authentic ones.
Allegedly using identical trademarks, Ripps sold the collection in an attempt to create uncertainty about the association between RR/BAYC NFTs and the genuine BAYC.
Ripps challenged the lawsuit in August, claiming his NFTs constituted appropriation art for artistic criticism.
By October, Judge Walter ordered Ripps and Cahen to pay Yuga Labs over $1.5m in damages, following a prior ruling that found them guilty of trademark infringement.
