Ryder Ripps Updates: According to the lawsuit, Ripps is defaming Yuga Labs and duping customers into buying his collection.
A trademark infringement action was filed in federal court in Los Angeles by Yuga Labs Inc., the company that created the well-known Bored Ape Yacht Club nonfungible tokens, alleging that conceptual artist Ryder Ripps tricked customers into buying counterfeit Bored Ape NFTs.
• According to Yuga Labs, Ryder Ripps is abusing the company’s trademarks.
• A judgement enjoining Ripps and his accomplices is sought by Yuga Labs.
• Regarding BAYC’s suspected Nazi affiliations, Ripps had earlier tweeted.
The developer of the Bored Ape Yacht Club non-fungible tokens (NFTs), Yuga Labs, has launched a lawsuit against Ryder Ripps, an artist and the man behind gordongoner.net, as well as a number of his colleagues, alleging that they produced and sold “copycat NFTs” that diminished the value of the originals.
The artist allegedly attempted to depreciate Bored Ape NFTs while also “flooding the market” by using the genuine Bored Ape Yacht Club photographs in his own counterfeit NFT collection under the name “RR/BAYC” NFTs.
According to the lawsuit, Bored Ape NFTs “frequently resell for hundreds of thousands, if not millions, of dollars, and renowned celebrities are happy owners of Bored Ape NFTs,” adding that there are only 10,000 total Bored Ape NFTs and that each one is special.
For 0.15 ETH, Ripps produced his own line of NFTs under the RR/BAYC brand and offered them for sale online.
The website claims that the RR variants are all sold out and that their volume briefly surpassed that of the main project.
At 10,000 NFTs, Ripps will have amassed what Yuga Labs regards to as “ill-gotten profit”—$1.8 million, or nearly Rs. 14 crore—from the collection.
Yuga Labs is now asking for damages, attorney’s fees, and an order prohibiting Ripps and associates from “engaging in further interference with its prospective economic connections.”
Earlier this year, Ryder Ripps, a digital artist named in Forbes’ 2016 list of the 30 under 30, who describes himself as an American conceptual artist, programmer, and creative director, wrote on Twitter that he had been “researching and sharing about BAYC Nazi ties.” In a blog post, the creators of Bored Ape rebutted these accusations.
In addition, BAYC’s inventor claims that the trademark applications for BAYC, the firm name, and the logos were made in 2021 and are still pending.
In relation to trademark infringement, consumer misinformation, and the selling of knockoff BAYC NFTs, the company requests a jury trial.