The NFT Battle That Challenges Brand Rights in the Digital Realm
Main Idea
The 9th Circuit Court of Appeals ruled that Yuga Labs failed to sufficiently prove trademark infringement by Ryder Ripps' RR/BAYC NFT collection, overturning a previous $8 million damages ruling and requiring Yuga Labs to provide more evidence in a new trial.
Key Points
1. Yuga Labs sued Ryder Ripps, alleging his RR/BAYC NFT collection infringed on Bored Ape Yacht Club trademarks, with an initial ruling awarding $8 million in damages to Yuga Labs.
2. Ryder Ripps appealed, arguing his NFTs were created for humorous and critical purposes, not as counterfeit products.
3. The 9th Circuit Court of Appeals found Yuga Labs did not sufficiently prove Ripps' NFTs caused brand confusion, overturning the damages ruling.
4. The court ordered a new trial, stating Yuga Labs must provide more convincing evidence to succeed in its claims.
5. The case's outcome could significantly impact the NFT market and digital art projects, particularly regarding trademark enforcement and creative expression.
Description
The BAYC NFT case saw a key legal development in the U.S. The court nullified the lower court's decision, leading to a retrial. Continue Reading: The NFT Battle That Challenges Brand Rights in the Digital Realm The post The NFT Battle That Challenges Brand Rights in the Digital Realm appeared first on COINTURK NEWS .
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