You have probably heard of Bored Ape Yacht Club, a collection of non-fungible tokens (NFTs) created by Yuga Labs. These NFTs are owned by A-list celebrities and exploded in popularity in 2021. Currently, Bored Ape Yacht Club NFTs can sell for millions of dollars and are arguably one of the most popular and successful NFT collections in existence. As of January 4, 2022, it is estimated that sales of BAYC NFTs have surpassed one billion dollars. Ryder Ripps, a self-proclaimed “conceptual artist,” created his own NFT collection called the Ryder Ripps Bored Ape Yacht Club (RR/BAYC) in May 2022 using the same online digital images as the BAYC NFT collection, by generating new NFTs using the URLs embedded in the Bored Ape Yacht Club smart contracts. In July 2022, Yuga Labs, Inc. filed a lawsuit in California claiming Ryder Ripps et al. has misused trademarks owned and used by Yuga Labs since April 2021 (the BAYC Marks).
