Two Bored Apes stroll into an NFT market… and check the boundaries of mental property rights – Knowledge
Yuga Labs Inc., the blockchain know-how firm that specialises in growing digital collectables, has lately commenced courtroom proceedings in opposition to artist Ryder Ripps over the sale of alleged copycat NFTs. Yuga is the corporate behind the Bored Ape Yacht Membership NFT assortment, probably the most standard and invaluable collections within the NFT area (for instance, final 12 months 101 Bored Ape NFTs resold for $24.4 million at an public sale).
Ripps, however, is a self-proclaimed “conceptual artist” infamous for his controversial satirical tasks, who allegedly made $1.8 million off the alleged copycat assortment of the Bored Apes. Whereas the lawsuit has been filed earlier than the Central District of California and will likely be determined underneath US legislation, it raises essential questions on how Australian commerce mark legislation may cope with the same NFT commerce mark dispute.
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