Yuga Labs, the digital assets incubation studio and the parent company behind dominant non-fungible token brand Bored Ape Yacht Club (BAYC), has reached into consensus with one of the defendants “Thomas Lehman” in its trademark lawsuit against Ryder Ripps.
Yuga Labs And Ryder Ripps Lawsuit
The digital assets incubation firm Yuga Labs and Thomas Lehman reached a legal settlement earlier this week in a federal court. Yuga Labs filed a lawsuit against Lehman for infringement last month.
Launched in 2021, Yuga Labs is home to popular non-fungible tokens, such as Mutant Ape Yacht Club (MAYC), Meebits, CryptoPunks, 10KTF, Bored Ape Kennel Club (BAKC), Sewer Pass, Bored Ape Yacht Club (BAYC) and Otherdeed for Otherside.
The $4 billion NFT firm entered a legal tussle earlier last year. At the time, Yuga Labs alleged the conceptual artist and internet provocateur Ryder Ripps of trademark infringement. Ripps is an artist behind the controversial RR/BAYC NFT project.
In its trademark lawsuit, Yuga Lab listed Thomas Lehman and Ryan Hickman, the developers who assisted Ripps in creating the smart contract for RR/BAYC NFT collection, as the defendants in the lawsuit.
Last month, Yuga Labs filed two lawsuits separating Lehman and Hickman from the main Ryder Ripps lawsuit. Yuga Labs filed one lawsuit against Lehman in the Northern District of New York and one against Hickman in Nevada federal court.
Yuga Labs Settles Its Lawsuit With Thomas Lehman
In a federal court filing published on February 06, Yuga Labs and Lehman Thomas have agreed to settle their legal disputes, with Lehman conceding Yuga Labs BAYC trademark ownership. While speaking about the matter after the legal settlement, Lehman remarked:
“It was never my intention to harm Yuga Labs’ brand, and I reject all disparaging statements made about Yuga Labs and its founders.”
In an exclusive interview with Decrypt, Ryder Ripps noted that he was unaware that Lehman would consider settling with Yuga labs, describing the legal development as “news to him.”Ripps has showcased plans to take his case with Yuga Labs as far as possible.
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