Yuga Labs has settled its lawsuit against artist Ryder Ripps and Jeremy Cahen over their alleged copying of their non-fungible tokens (NFTs) from the Bored Ape Yacht Club collection.
The settlement ends a two-year dispute over whether the pair’s project, which recycled Bored Ape images, crossed the line from satire to trademark infringement.
Proposed court orders would permanently bar Ripps and Cahen from using Yuga’s trademarks and images, according to a California federal court filing. The terms of the settlement were not disclosed.
Yuga’s Bored Ape collection became one of the most recognizable NFT brands during the peak of the market. The firm sued in 2022, claiming Ripps and Cahen sold lookalike tokens in their RR/BAYC NFT collection and made millions by confusing buyers. The defendants claimed that their work was a satirical response to the actual Bored Ape Yacht Club gathering.
A district judge initially sided with Yuga, awarding nearly $9 million in damages and fees. But an appeals court later overturned that decision, saying a jury would have to decide whether buyers were actually misled. The settlement avoids that lawsuit.
