Yuga Labs has settled its lawsuit against artist Ryder Ripps and Jeremy Cahen for their alleged copying of their Bored Ape Yacht Club collection non-fungible tokens (NFTs).
The settlement ends a two-year dispute over whether the pair’s project, which reused footage from Bored Ape, crossed the line from satire to trademark infringement.
The proposed court orders would permanently ban Ripps and Cahen from using Yuga’s trademarks and images, according to a document filed in federal court in California. Terms of the agreement were not disclosed.
Yuga’s Bored Ape collection became one of the most recognized NFT brands during the market’s peak. The company filed a lawsuit in 2022, alleging that Ripps and Cahen sold similar tokens in their RR/BAYC NFT collection and made millions by confusing buyers. The defendants argued that their work was a satirical response to the actual Bored Ape Yacht Club collection.
A district judge initially sided with Yuga and awarded him nearly $9 million in damages and fees. But an appeals court later overturned that ruling, saying a jury would have to decide whether the buyers were really deceived. The agreement avoids that trial.
