{"id":10411,"date":"2024-02-04T13:04:26","date_gmt":"2024-02-04T11:04:26","guid":{"rendered":"https:\/\/forklog.com\/en\/creators-of-fake-bayc-nfts-to-pay-yuga-labs-9-million\/"},"modified":"2024-02-04T13:04:26","modified_gmt":"2024-02-04T11:04:26","slug":"creators-of-fake-bayc-nfts-to-pay-yuga-labs-9-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/creators-of-fake-bayc-nfts-to-pay-yuga-labs-9-million\/","title":{"rendered":"Creators of &#8216;Fake&#8217; BAYC NFTs to Pay Yuga Labs $9 Million"},"content":{"rendered":"<p>District Judge John F. Walter <a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.cacd.855658\/gov.uscourts.cacd.855658.452.0.pdf\">ordered<\/a> artist Ryder Ripps and Not Larva Labs NFT marketplace founder Jeremy Cahen to pay $8.9 million to Yuga Labs in a trademark infringement case.<\/p>\n<p>In June 2022, the creators of the Bored Ape Yacht Club (BAYC) NFT collection filed a lawsuit against the defendants, accusing them of issuing and selling &#8216;fake&#8217; tokens that &#8216;devalue&#8217; the original works.<\/p>\n<p>According to the document, Ripps &#8216;flooded the market with imitators, using original BAYC images and naming them RR\/BAYC.&#8217;<\/p>\n<p>In February 2023, the court upheld Yuga Labs&#8217; claims of trademark infringement by Thomas Lehman, who created websites and smart contracts for RR\/BAYC.<\/p>\n<p>In October, the court ordered Ripps and Cahen to pay Yuga Labs approximately $1.575 million in damages. The new amount includes $7 million in legal fees and other expenses.<\/p>\n<p>Earlier in the same month, Yuga Labs announced a restructuring and staff reductions. The studio identified the Otherside metaverse, launched in spring 2022, as a key focus.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>District Judge John F. Walter ordered artist Ryder Ripps and Not Larva Labs NFT marketplace founder Jeremy Cahen to pay $8.9 million to Yuga Labs in a trademark infringement case. In June 2022, the creators of the Bored Ape Yacht Club (BAYC) NFT collection filed a lawsuit against the defendants, accusing them of issuing and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10410,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1356,1162,1213],"class_list":["post-10411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bored-ape-yacht-club","tag-court-cases","tag-nft"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=10411"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10411\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/10410"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=10411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=10411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=10411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}