Court Overturns Yuga Labs’ $9M Award in NFT Dispute with Ryder Ripps

The post Court Overturns Yuga Labs’ $9M Award in NFT Dispute with Ryder Ripps appeared first on Coinpedia Fintech News

The US Ninth Circuit Court of Appeals has overturned Yuga Labs’ $9 million trademark infringement award against artist Ryder Ripps and Jeremy Cahen. The court ruled that Yuga had not proven consumer confusion over Ripps’ “Ryder Ripps Bored Ape Yacht Club” NFTs allegedly mimicking Yuga’s Bored Ape Yacht Club collection. The lawsuit now returns to federal court for trial. However, the court affirmed that NFTs qualify as protectable goods under US trademark law, setting a key precedent.