According to the lawsuit, Ryder Ripps and Jeremy Cahen benefited from Bored Ape NFTs at Yuga Labs’ expense.
The Yuga Labs lawsuit against a defendant for ‘appropriating’ and benefitting from Bored Ape non-fungible tokens (NFTs) has advanced. According to a recent filing, the prominent NFT developer saw a US District Court of Central California rule in its favor against artist Ryder Ripps and Jeremy Cahen. The court denied a motion by the defendants to dismiss Opposition from the famous blockchain technology company. However, the court also granted Ripps and his NFT business partner Cahen the possibility of re-filing a future motion against Yuga Labs’ appropriation claims.
Yuga Labs has accused the duo of benefiting from Bored Ape NFTs at Yuga’s expense. The Miami-based company first filed the lawsuit in June against the California-based Ryder Ripps and several associates. According to Yuga Labs at the time, the NFT artist and NFT marketplace Not Larva Labs founder Jeremy Cahen copied and sold NFT collections, subsequently devaluing Bored Ape products.
Presently weighing in on the California court’s latest ruling, a Yuga Labs spokesperson stated:
“Our lawsuit to hold Ripps and Cahen accountable for their obvious and blatant theft of Yuga Labs’ trademarks rightfully moves forward with this ruling.”
In addition, the spokesperson expressed Yuga Labs’ intent to prove how the copycat NFTs adversely impact its ‘originals.’ In the Yuga Labs’ spokesperson’s own words, “We will continue to prove these facts as the case progresses.”
Ripps, Others Brand Bored Ape Creator Lawsuit as Attack on Freedom of Speech
In October, the defendants initially filed the motion against Yuga Labs to dismiss the opposition. Branding the lawsuit by the Bored Ape creator as an attack on his freedom of speech, Ripps also filed an anti-strategic lawsuit against public participation (SLAPP) motion at the time. In addition, the aggrieved co-defendant previously expressed a willingness to only settle out of court for a payout of no less than $100 billion. Also, disputing Yuga Labs’ claims of copycat NFTs, Ripps noted that “RR/BAYC is an expressive conceptual artwork illuminating truths about YugaLabs and establishing that you can not copy an NFT. Nothing about this ruling can or will change those objective facts.”
The California-based conceptual artist also said:
“I do see it possible that [Yuga Labs] will wake up one day and realize the gravity of their troll and their incessant lies and their disrespect towards other people.”
Back in July, the co-defendant expressed faith in his chances of winning the case against Yuga Labs. In addition, Ripps also suggested that the proceeds from a Yuga Labs payout, either by court mandate or out of court, would be used to settle numerous financial obligations. According to him, these include hefty lawyers’ fees and community members supporting Ripps NFTs. However, Ripps also added that Yuga Labs does not currently consider the far-reaching ramifications of its lawsuit and accusations.
In June, amid the lawsuit filing, the Bored Ape creator took to Twitter to appreciate its community for their support.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
