Yuga Labs Inc. has issued court proceedings in California against Ryder Ripps and others relating to allegedly unauthorised NFTs. Ripps is an NFT creator and conceptual artist, and the court proceedings relate to trade mark infringement and unfair competition amongst other claims.
Yuga Labs runs the renowned Bored Ape Yacht Club NFT project. An NFT is a form of data that can be sold and traded and is typically related to digital art or collectibles. The Bored Ape NFT range and the hype around it can be seen by a simple internet search. In the past year, Eminem, Snoop Dogg, Paris Hilton and Jimmy Fallon amongst other celebrities, are said to have purchased Bored Ape NFTs.
In the present case Yuga Labs accuse Ripps of re-producing a full collection comprising 9,999 Bored Ape Yacht Club NFTs, simply adding “RR” at the beginning of the name of the collection. The case highlights concerns around verifying the authenticity of NFTs and the potential scope for the creation of “unauthorised” NFTs by people who may not own intellectual property associated with an NFT.
If you have any questions on the above, please do not hesitate to contact the team at McDaniels Law on 0191 281 4000 or firstname.lastname@example.org: Trade Marks