Yuga Labs, the blockchain company known for its popular NFT collectibles, has been granted a significant victory in a copyright infringement lawsuit. A federal judge in California ruled that Yuga Labs is entitled to receive nearly $1.6 million in damages, as well as legal fees, from conceptual artist Ryder Ripps and his business partner.
The lawsuit stems from allegations that Ripps and his partner copied the NFT art of Yuga Labs’ “Bored Ape” collection. The court found that the defendants had intentionally imitated the artwork, resulting in copyright infringement.
On October 26, the U.S. District Judge made the ruling in favor of Yuga Labs, stating that the company should be compensated for the damages caused by the infringement. The $1.6 million award reflects the value of the copied artwork and the impact on Yuga Labs’ business.
This ruling highlights the importance of copyright protection in the NFT space, where unique digital assets can be easily replicated and distributed. It sets a precedent that artists and creators can seek legal action against those who copy or plagiarize their work.
In addition to the damages awarded, the defendants are also responsible for covering Yuga Labs’ legal fees. This decision emphasizes the consequences of intellectual property infringement and serves as a warning to others who may consider appropriating NFT art without permission.