Yuga Labs and Ryder Ripps NFT developer resolved their lawsuit.

Yuga Labs and Ryder Ripps NFT developer resolved their lawsuit.

Altcoin news, News

Developer Thomas Lehman, who worked with Ryder Ripps to build the websites and smart contracts for the RR/BAYC NFT project, and NFT industry leader Yuga Labs have reached a settlement.

Ryder Ripps and Jeremy Cahen were sued by Yuga Labs in June for allegedly “trying to devalue” genuine BAYC NFTs with imitation RR/BAYC NFTs. The NFTs were allegedly marketed as genuine BAYC products using real BAYC pictures, according to Ripps.

However, Yuga added two additional cases to its case against Ripps by bringing separate claims against Thomas Lehman in the Northern District of New York and developer Ryan Hickman in a federal court in Nevada.

According to a Bloomberg report, Yuga said that the developers played a key role in the group Ripps put together to create imitation “RR/BAYC” NFTs that exploited the Bored Ape brand and graphics.

Ryder Ripps NFT

After the case was concluded, Lehman said, “I am pleased to have resolved the trademark dispute between Yuga Labs, Inc. and Lehman in the Northern District of New York. I never intended to damage Yuga Labs’ reputation, and I reject any negative claims made about the company and its founders. I also value all of their valuable contributions to the NFT industry.

“We are delighted that Mr. Lehman admitted his participation in helping former coworkers Ryder Ripps and Jeremy Cahen to infringe on Yuga Labs’ trademarks by producing, marketing, and selling counterfeit NFTs,” a representative for Yuga Labs said.

Despite the fact that their lawsuit is still pending, Ripps and Cahen are at odds with Yuga Labs. Regarding its NFTs IP license and commercial rights for the 10,000 pictures in the BAYC collection, Yuga Labs has clarified any misunderstandings.

Compiled by Coinbold