The creators of the popular non-fungible token (NFT) project Bored Ape Yacht Club (BAYC), Yuga Labs, have sued the artist dubbed Ryder Ripps and collaborators for attempting to devalue the BAYC brand. Yuga Lab’s lawsuit claims Ripps and associates trolled the company and started “scamming consumers into purchasing RR/BAYC NFTs by misusing Yuga Labs’ trademarks.
“We will continue to be transparent with our community as we fight these slanderous claims,” Yuga Labs said. “In order to put a stop to the continuous infringement, and other illegal attempts to bring harm to us and the BAYC community, we have filed a lawsuit against the responsible parties. We will continue exploring and pursuing all legal options at our disposal.”
Yuga Labs’ trademarks were also allegedly used in Ripps’ “Ape Market” NFT marketplace. The lawsuit adds that this is “no mere monkey business” and that Ripps’ actions were a “deliberate effort to harm Yuga Labs at the expense of consumers.”
The blog post gives a full summary of why the BAYC creators chose to use Apes, the inspiration behind the design of the BAYC logo, and the company name, Yuga Labs. The lawsuit accuses Ripps and several cohorts of “perpetuating a scam.”
What do you think about the Yuga Labs’ lawsuit against Ryder Ripps and the RR/BAYC NFT collection? Let us know what you think about this subject in the comments section below.