Blow To Yuga Labs, As US Court Overturns Bored Ape NFT Trademark Case
Yuga Labs, a digital asset incubation studio and the company behind the globally acknowledged Bored Ape Yacht Club and Mutant Ape Yacht Club non-fungible token series, has suffered a mild blow this week after a United States Court of Appeal overturned its initial court ruling against the digital artist Ryder Ripps and his business partner Jeremy Cahen over their alleged counterfeits trading of NFTs. US Judge Overturns Yuga Labs’ $8.8M NFT Case In a July 23 publication, Reuters confirmed that the United States Court of Appeals has overturned the initial court ruling against the Bored Ape Yacht Club non-fungible token series maker Yuga Labs and the digital artist Ryder Ripps and his business partner Jeremy Cahen. In response to the court ruling, the Bored Ape Yacht Club floor price has slightly plunged, falling by 1.3% from the past day. Founded in 2021, Yuga Labs is a renowned blockchain technology company, focusing on digital collectibles, metaverse development, and the interse...