Yuga Labs and RR/BAYC NFT lawsuit reaches settlement

Yuga Labs has reached a settlement with artists Ryder Ripps and Jeremy Cahen regarding the RR/BAYC NFT series lawsuit, concluding two years of dispute. The series had used Bored Ape Yacht Club images, and the core of the dispute was whether the project constituted trademark infringement or parody. Previously, a judge awarded Yuga nearly $9 million, but the appeals court overturned the ruling and required a jury to decide whether buyers had been misled. The settlement avoids a trial and prohibits Ripps and Cahen from using Yuga trademarks.