NFT Artists Ordered to Pay $9 Million to Yuga Labs for Infringing BAYC Designs: Turmoil Expected to Persist
Before this filing, the court had previously ruled for the artists to pay $1.57 million to BAYC and cover legal expenses.
Two NFT artists, Ryder Ripps and Jeremy Cahen, have been ordered by a US court to shell out $9 million (roughly Rs. 74 crore) from their pockets and pay the sum to Yuga Labs, the creator of Bored Apes Yacht Club (BAYC) NFTs. The two parties have been embroiled in an intense legal battle since May 2022 after Yuga Labs accused Ripps and Cahen of copying the designs of its BAYC NFTs for their own separate line of digital collectibles named Ryder Ripps BAYC (RR/BAYC).
Earlier this week, a court filing ordered Ripps and Cahen to pay millions in damages to Yuga Labs. Prior to this filing, the court had mandated the artists to pay $1.57 million to BAYC and cover legal expenses.
The recent filing however, detailed that this penalty amount has been escalated after adding disgorgement, legal fees, and expert witness fees among some other charges within thirty days.
Cahen, who goes by the username @Pauly0x on X, reacted strongly to the refreshed court order. In a post, Cahen said that he along with Ripps will be “appealing this outcome in the Ninth Circuit Court of California”.
BREAKING
On a Saturday, The Federal Court has entered its final judgement against me in my case vs. YugaLabs.
Judgement Total: $9,112,496.50
(Note: My name is misspelled in the order)
We are appealing this outcome in the Ninth Circuit Court of California.
Case is ongoing. ✊ pic.twitter.com/fHcEsbBL6a
— PAULY (@Pauly0x) February 3, 2024
