NFT artist Ryder Ripps and his business associate Jeremy Cahen are ordered to pay $1.57 million to Bored Ape Yacht Club creator Yuga Labs for their satirical NFT collection.
In an Oct. 25 court order, US District Judge John Walter said that making the defendants give up their profits would stop them from continuing to step on the Yuga Labs’ trademarks.
In May 2022, Ripps and Cahen launched the Ryder Ripps Bored Ape Yacht Club (RR/ BAYC) collection, a set of NFTs closely resembling Bored Apes, which Ripps claimed were promoting Nazi symbols.
In June that year, Yuga sued Ripps and his colleague, accusing them of producing and selling imitation NFTs that undermined the worth of the…
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