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Yuga Labs, the developer of Bored Ape Yacht Club, has filed a lawsuit against Ryder Ripps, alleging that he has been "scamming" purchasers with falsely comparable NFTs in a "deliberate effort to hurt Yuga Labs at the cost of consumers."
Non-fungible tokens, or NFTs, are blockchain-based tokens that establish ownership of digital or physical goods, such as works of art or video game items.
Ripps, identified in the lawsuit as "a self-proclaimed 'conceptual artist,'" is the author of RR/BAYC, an Ethereum NFT collection containing identical BAYC photos he did not acquire. Ripps began minting his RR/BAYC NFTs for the first time on Foundation on May 13, and when Yuga issued him an initial DMCA takedown demand, it was swiftly canceled after Ripps disputed it.
OpenSea, the largest NFT platform, has subsequently withdrawn Ripps’ collection due to “an allegation of intellectual property infringement,” but not before approximately $3.5 million was exchanged in total volume.
Ripps reacted to the lawsuit on Twitter but did not answer Decrypt’s request for more comments on a blog post by BAYC co-founder Gordon Goner (real name: Wylie Aronow) that referred to Ripps; as a “demented troll.”
Yuga Labs tweeted on Friday that the company “will continue to be transparent with our community as we fight these slanderous claims” and “will continue researching and pursuing all legal options available to us.”
The $4 billion-valued firm desires a jury trial.
According to the lawsuit, “This is no mere monkey business… These actions are calculated, intentional, and willful with the stated purpose of causing actual and monetary harm to Yuga Labs and the holders of authentic Bored Ape Yacht Club NFTs.”
