Yuga Labs settles Bored Ape NFT lawsuit, ending fight over alleged copycat tokens

The settlement avoids a trial and ends the dispute over the RR/BAYC NFTs, which claimed to parody Bored Ape Yacht Club, one of the most recognizable NFT brands. What to know : Yuga Labs settled its two-year lawsuit against artist Ryder Ripps and Jeremy Cahen over their RR/BAYC NFT collection, which reused Bored Ape imagery. The settlement bars them from using Yuga's trademarks. The dispute centered on whether the project was satire or trademark infringement. A judge initially awarded Yuga nearly $9 million in damages, but an appeals court overturned that ruling, requiring a jury to decide if buyers were misled. The settlement avoids a trial and ends the dispute over the Bored Ape Yacht Club, one of the most recognizable NFT brands.