Yuga Labs has settled its lawsuit against artists accused of copying its Bored Ape Yacht Club NFTs, bringing a nearly four-year legal dispute to a close.
The agreement with Ryder Ripps and Jeremy Cahen requires the pair to cease using Yuga’s imagery and transfer control of associated NFTs, smart contracts and domains to the company.
The court also ordered that the defendants must not “transfer, assign, conceal, or otherwise dispose of any NFTs, domains, accounts, or other assets” to avoid compliance with the settlement.
The dispute began in June 2022, when Yuga Labs alleged the artists created and sold lookalike NFTs under the RR/BAYC project, generating millions by confusing buyers.
The artists had argued their work was satire and protected as parody under free speech laws, but earlier rulings found they had violated copyright protections.
Penalties initially reached $1.37 million and later rose to $9 million before being overturned on appeal, which had set the stage for a jury trial prior to the settlement.
The case highlights ongoing legal tensions around intellectual property rights, parody, and ownership in the rapidly evolving NFT market.