California Court Rules Against Ryder Ripps and Jeremy Cahen in BAYC NFT Case
According to reports, a California court ruled in partial summary judgment against Ryder Ripps and Jeremy Cahen in favor of the company Yuga Labs behind the BAYC NFT series.
The ju
According to reports, a California court ruled in partial summary judgment against Ryder Ripps and Jeremy Cahen in favor of the company Yuga Labs behind the BAYC NFT series.
The judge ruled that Bored Ape Yacht Club NFT violated Yuga’s copyright
In a recent development in the world of non-fungible tokens (NFTs), the company Yuga Labs has won a legal battle against artists Ryder Ripps and Jeremy Cahen over the Bored Ape Yacht Club (BAYC) NFT series.
Background on NFTs and BAYC
NFTs are unique digital assets that are stored on a blockchain network. They are used to represent digital artwork, collectibles, and other items that can be owned and traded just like physical assets.
BAYC is a project by Yuga Labs that features a collection of 10,000 unique ape-themed NFTs. Each BAYC NFT has its own unique features and characteristics, making it a highly sought-after item in the NFT market.
Legal Dispute
Ryder Ripps and Jeremy Cahen are both artists who created their own versions of the BAYC NFTs. They claimed that their versions were not identical to the original BAYC NFTs and therefore did not infringe on any copyrights or trademarks.
However, Yuga Labs filed a lawsuit against the artists, claiming that their versions of the BAYC NFTs were indeed infringing on Yuga Labs’ intellectual property rights.
Court Ruling
After considering the evidence presented by both sides, a California court ruled in partial summary judgment against Ryder Ripps and Jeremy Cahen in favor of Yuga Labs.
The court found that the artists had indeed infringed on Yuga Labs’ trademarks and copyrights by creating their own versions of the BAYC NFTs. As a result, the court ordered the artists to stop all sales and promotions of their NFTs, and to pay damages to Yuga Labs.
Implications for the NFT Market
This ruling has significant implications for the NFT market, as it confirms the importance of intellectual property rights in the space. NFT creators must ensure that they are not infringing on the rights of others when creating and selling their digital assets.
It also highlights the potential legal risks involved in creating and selling NFTs, which may deter some artists and collectors from participating in the market.
Conclusion
The legal battle between Yuga Labs and Ryder Ripps and Jeremy Cahen over the BAYC NFT series has come to a close, with Yuga Labs emerging victorious. This ruling confirms the importance of intellectual property rights in the NFT market and sets a precedent for future legal disputes in the space.
FAQs
1. What are NFTs?
NFTs are unique digital assets that are stored on a blockchain network. They can represent digital artwork, collectibles, and other items.
2. What is BAYC?
BAYC is a project by Yuga Labs that features a collection of 10,000 unique ape-themed NFTs.
3. What is the significance of the court ruling in the BAYC NFT case?
The court ruling confirms the importance of intellectual property rights in the NFT market and sets a precedent for future legal disputes in the space.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/18037/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
What coin does e10 dig (p106 dig what coin)
e10 Dig what currency e10 Dig what currency At present, mainstream blockchain platforms are developed on Ethereum, such as Bitcoin Core, EOS, etc. There are many dApps on Ethereum, but most of them use ETH to mine, so the contract code and operations of these platforms will be directly executed through eth2.0 clients, and they are basically open source, so that users can fully control their own funds and do not have to worry about being attacked by hackers Additionally, for those who are not optimistic about ETH or EOS, it is important to first understand what e10 is, as the Bitcoin network is a decentralized system where anyone can participate and receive rewards (just like regular computers) What currency does e10 dig A simple understanding is to use Ethereum’s original token e10 to dig Bitcoin, that is, Ethereum issues 10000 tokens, each of which corresponds to a digital asset of $10000 as the initial collateral. When the price of…
-
Blockchain Association Requests Information on Cryptocurrency “De-Banking”
According to reports, the Blockchain Association, one of the cryptocurrency lobbying groups, has sent a Freedom of Information Act (FOIA) request to the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (FDIC) to provide documents and communications related to cryptocurrency “de banking.”. It is reported that the requirements of the Freedom of Information Act are aimed at uncovering the truth behind the possibility of US cryptocurrency companies going to banking business, including more understanding of the situation where legally compliant cryptocurrency companies may close accounts. The Blockchain Association requires FDIC and the Federal Reserve to disclose documents related to encrypted “de banking” Analysis based on this information:The Blockchain Association, a cryptocurrency lobbying group, has sent a Freedom of Information Act (FOIA) request to three government agencies – the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (FDIC) – to provide documents and communications related…
-
Filecoin Breaks Through US $8 and Increases Daily by 2.56%
It is reported that the market shows that FIL has broken through US $8 and is now reported at US $8.01, with a daily increase of 2.56%. The market fluctuates g…
-
Meta Platform to Divest Kucustomer: A Move to Refocus on Core Business
According to reports, Meta Platform and people familiar with the matter said that the company planned to divest Kucustomer, a commercial software company acqui…
-
Yuga Labs’ TwelveFold NFTs Attracting Bids from More Than 280 Addresses
According to the report, according to the data on the page, Yuga Labs Bitcoin NFT series \”TwelveFold\” has participated in more than 280 bidding addresses, of w…
-
What is the website URL for btc wallet (which btc wallet is safe)
What is the website URL for btc wallet? What is the website URL for Bitcoin wall
-
Understanding the Recent ARB Token Transfer: What it Means for Offchain Labs and the Crypto Market
On April 3rd, according to Lookonchain data, 2.694 billion ARBs were transferred to approximately 140 EOA addresses through addresses beginning with 0x1e70 two days ago. This numbe
-
Aptos Community Approves AIP-17: A Significant Improvement in Gas Efficiency and Reduction in Gas Fees
On April 12th, according to the announcement on social media by Layer 1 network Aptos, its community has voted to approve the AIP-17 proposal, which will significantly improve gas
-
Ethereum Layer2 Witnesses an 11.08% Decrease in Lock-up Volume in the Last 7 Days
According to reports, L2BEAT data showed that the total lock-up volume on Ethereum Layer2 was US $5.48 billion, down 11.08% in the past 7 days. Among them, the…
-
Bridging Blockchains: The Risks Involved and How Flare Prioritizes Safety
According to reports, cryptocurrency trader Dan Rocky claimed on social media that billions of dollars have been hacked from bridging blockchains, often due to execution errors. Wi
-
GBTC Shows Strong Short-Term Growth Despite Recent Dips
According to the report, the market showed that GBTC rose by more than 10% in the short term, reaching US $13.5 in the short term, and is now at US $12.67.
… -
YugaLabs will launch the “Grailed PUMA Slipstream” NFT series corresponding to physical sports shoes
On April 26th, YugaLabs announced that they will launch the \”Grailed PUMA Slipstream\” NFT series corresponding to physical sports shoes. To qualify for the Grailed PUMA Slipstream
-
Gridex Token GDX Launch on D5 Exchange Leads to Significant Increase in Trading Volume and Price
According to reports, after the official launch of the Gridex token GDX on D5 Exchange on March 15, the GDX 24 hour trading volume increased by more than 90%, and the price rose by more than 193.3%, currently exceeding 0.4745. At the same time, Gridex has also successively opened GDX/USDT, GDX/USDC, GDX/GMX, and other trading pairs. Users participating in GDX/ETH transactions have the opportunity to participate in the Maker Rewards Program to carve up 54 million GDX. The Gridex Protocol is the first order book transaction protocol on the Ethereum chain. GDX launched multiple transaction pairs on D5 Exchange Analysis based on this information:Gridex, a blockchain-based protocol that allows for the creation and trading of custom financial derivatives, recently launched its native Gridex token (GDX) on the D5 Exchange on March 15. Following the launch, the 24-hour trading volume on the exchange increased by over 90%, while the GDX price surged by more than 193.3%, currently exceeding 0.4745. Apart from…
-
Bitcoin Network Statistics and Difficulties Prediction
It is reported that according to BTC.com data, the number of unconfirmed transactions across the Bitcoin network is 21549, the network computing power is 293.5…
-
What brand is MARO (marm0t brand)?
What brand is MARO? There have been some successful cases in the field of blockc
-
El Salvador Government Eliminates Taxes on Technological Innovation
According to reports, President Nayib Bukele of El Salvador wrote on social media that a bill to eliminate all taxes on technological innovation had been completed, and CEO CZ of C