Yuga Labs has settled its lawsuit against artists Ryder Ripps and Jeremy Cahen for their alleged copying of its Bored Ape Yacht Club Collection non-fungible tokens (NFTs).
The deal ends a two-year dispute over whether the duo’s project, which reused footage from Bored Ape, crossed the line between satire and trademark infringement.
The proposed court orders would permanently prohibit Ripps and Cahen from using Yuga’s trademarks and images, according to a filing in California federal court. The terms of the settlement were not disclosed.
Yuga’s Bored Ape collection became one of the most recognizable NFT brands during the height of the market. The company filed a lawsuit in 2022, claiming that Ripps and Cahen sold lookalike 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 real Bored Ape Yacht Club collection.
A district judge initially sided with Yuga and awarded nearly $9 million in damages. But an appeals court later overturned that decision, ruling that a jury should decide whether the buyers had actually been misled. The settlement avoids this lawsuit.
