Crypto

All You Need To Know About The Yuga Labs Lawsuit

BAYC’s creator Yuga Labs on Saturday said it has filed a lawsuit against responsible parties for defaming Yuga Labs and Bored Ape Yacht Club (BAYC) founders. The Yuga Labs v. Ryder Ripps lawsuit alleges false designation of origin, false advertising, cybersquatting, trademark infringement, unfair competition, unjust enrichment, conversion, and tortious interference claims on defendants.

Yuga Labs Demands Jury Trial Against Critics

Yuga Labs has again come under heated debate that the Bored Ape Yacht Club and its NFTs contained racist imagery and Nazi symbolism. In response, Yuga Labs’ founder Wylie Aronow, better known as Gordon Goner, took to Twitter to put an end to the disinformation campaign accusing them of being super-secret Nazis. However, he mentioned that they are just a group of Jewish, Turkish, Pakistani, and Cuban friends.

Today, Yuga Labs in a tweet announced that they have filed a lawsuit against the responsible parties. To put an end to defaming claims, continuous infringement, and other illegal attempts, they will take every legal option. The legal action is to be taken against anyone who harms them and the BAYC community.

Moreover, Yuga Labs has released an official letter on Medium explaining why the NFT collection feature apes, the inspiration behind the design of the BAYC logo, and the company name.

Yuga Labs has filed the lawsuit against artist Ryder Ripps, Jeremy Cahen or Pauly0x, and other critics. It claims Ryder Ripps is trolling Yuga Labs and scamming consumers into purchasing his collection, RR/BAYC NFTs misusing its trademarks.

Furthermore, BAYC’s creator asserts the trademarks for BAYC, company name, and logos were filed in 2021 and are currently pending. The company seeks a jury trial on trademark infringement, misleading consumers, and the sale of copycat BAYC NFTs.

In total, BAYC has filed 11 causes of action against Ryder Ripps, Jeremy Cahen, and others involved in the case.

Defendant Claims Victory in the Lawsuit

Jeremy Cahen, better known as Pauly0x, in a tweet on June 25 said the Yuga Labs lawsuit will be the most historical case in the history of Digital Art. He also claims victory in the lawsuit based on Vitalik Buterin’s blog on problems of censorship related to blockchain technology. The tweet reads:

“THE YUGALABS LAWSUIT WILL BE THE MOST HISTORICAL & PRECEDENT SETTING CASE IN THE HISTORY OF DIGITAL ART. TOGETHER, WE ARE AT WAR FOR OUR FUTURE. MY CONVICTION HAS NEVER BEEN HIGHER. WE WILL WIN. OUR VICTORY WILL BE A LANDMARK ONE FOR ALL DIGITAL CREATIVES.”

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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