Yuga Labs Awarded $1.6 Million in Damages in NFT Copyright Infringement Lawsuit Against Ryder Ripps
A California federal judge said that Yuga Labs, the blockchain company behind some of the most popular collectibles of the NFT boom, is entitled to receive nearly $1.6 million in damages, plus legal fees, from a conceptual artist and his business partner who copied Bored Ape’s NFT art.
On October 26, the U.S. District Judge, John Walter, determined that Yuga Labs, the creator of the Bored Ape Yacht Club non-fungible tokens (NFTs), is entitled to over $1.5 million in damages from conceptual artist Ryder Ripps and his business partner Jeremy Cahen. Ripps and Cahen had copied Yuga’s NFT art, claiming it was an art project meant to criticize racist elements in Yuga’s works.
Welp, looks like it was a good day for @yugalabs who just won ~$1.5 million in damages in their trademark infringement case PLUS attorneys fees and costs (so another $1 million conservatively and probably much more?). Hopefully their attorneys have some fun at ape fest. pic.twitter.com/BvP8jrBi0T
— Birdnals (@BirdnalsLAW) October 26, 2023
The ruling in question follows an earlier judgment by the United States District Court for the Central District of California, which determined that Ryder Ripps and Jeremy Cahen had indeed infringed on Yuga Labs’ trademarks with their NFT collection in April.
As a result, Yuga Labs was granted an injunction and a subsequent trial that would determine the extent of damages to be awarded to Yuga Labs.
In the trial yesterday, Judge Walter stated that Ripps and Cahen must pay Yuga all the profits they earned from their copied NFTs. He rejected their defense that their copies were satirical and ruled that they intentionally used Yuga’s success to profit.
Federal judge John Walter said,
“Defendants were not creating a parody or
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