Yuga Labs, creators of the popular, non-tradable token (NFT) project Bored Ape Yacht Club (BAYC), has sued artist Ryder Ripps and his collaborators for attempting to devalue the BAYC brand. Yuga Lab’s lawsuit alleges that Ripps and its partners defrauded the company and began “deceiving consumers into purchasing RR/BAYC NFTs by abusing Yuga Labs’ trademarks.”
Yuga Labs Sues Ryder Ripps, Aims to ‘Fight Against Defamation Claims’
Yuga Labs in California has sued artist Ryder Ripps and several of his associates. The company spoke about the lawsuit on Twitter on June 24 and said: aforementioned He said the support from the community was “overwhelming”.
“We will continue to be transparent with our community as we tackle these defamatory allegations,” Yuga Labs said. “We have filed a lawsuit against those responsible to put an end to continued violations and other unlawful attempts and harm to us and the BAYC community. We will continue to explore and pursue all legal options we have.”
Yuga Laboratories blame Ryder Ripps is “trying to devalue” official BAYC NFTs with a collection of counterfeits called RR/BAYC NFTs. The lawsuit alleges that original BAYC images were used and Ripps was accused of marketing the NFTs as official BAYC products.
Yuga Labs’ trademarks are also allegedly used in Ripps’ “Ape Market” NFT market. The lawsuit adds that this is not “just monkey business” and that Ripps’ actions are “a deliberate effort to harm Yuga Labs at the expense of consumers.”
Ryder Ripps in the first week of February accused Trademarks of Yuga Labs with “Nazi ties”. Yuga Labs co-founder Gordon Goner responded to the accusations in a Medium blog post, emphasizing that the allegations were “insanely remote.”
The blog post gives a full rundown 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 fraud.”
The lawsuit states that Ripps claims his actions were “satire,” but Yuga Labs insists that Ripps made millions in ill-gotten gains from the RR/BAYC NFT collection. Yuga Labs believes Ripps and the collection will continue to harm the business. Ripps continues chirp About the alleged connection between certain symbols Yuga Labs uses.
The creator of the RR/BAYC NFT collection is also tweeted out On the “conditions accepted by those who buy RR/BAYCs”, the client “understands that this is a new mint of BAYC images, recontextualizing it for educational purposes as protest and satirical commentary.”
What do you think of Yuga Labs’ lawsuit against Ryder Ripps and the RR/BAYC NFT collection? Let us know what you think about it in the comments section below.
Image Credit: Shutterstock, Pixabay, Wiki Commons, Feature cover credit: Bored Ape Yacht Club Art, Yuga Labs
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