Yuga Labs Accuses Ryder Ripps of Destroying NFT Keys to Evade Court Order
The ongoing legal battle between Yuga Labs, creators of the Bored Ape Yacht Club (BAYC) NFTs, and artist Ryder Ripps has taken a dramatic turn with Yuga Labs accusing Ripps of contempt of court.
Background: The conflict stems from Ripps and his partner, Jeremy Cahen, creating unauthorized versions of BAYC NFTs under the name Ryder Ripps BAYC (RR/BAYC) collection, which violated copyright laws.
Court Ruling: In April 2023, a judge ruled in favor of Yuga Labs, ordering Ripps and Cahen to pay $1.57 million in damages and comply with a court injunction. The injunction required them to destroy or transfer their RR/BAYC NFTs.
Allegations Against Ripps: Yuga Labs alleges that Ripps deliberately destroyed access to his wallets containing RR/BAYC NFTs to evade compliance with the court order. They argue that Ripps acted in bad faith, misled the court, and failed to fulfill other obligations outlined in the judgment.
Response from Ripps: Ripps and Cahen claim that Ripps complied fully with the court injunction, except for orders related to wallets he lost access to. They argue that Ripps' counsel reached out to Yuga Labs' counsel and that Ripps disclosed the destruction of private keys in December 2023 to prevent accidental engagement with the wallets.
Criticism and Questions: Critics raise concerns about the effectiveness of the court's judgment if Ripps retains potential access to the NFTs through backups or recovery options. Yuga Labs questions the sincerity of Ripps' compliance efforts and suggests that he may still be able to recover access to his NFTs.
Ongoing Legal Proceedings: The legal battle continues as both parties present their arguments before the court. Yuga Labs seeks sanctions against Ripps for contempt of court, while Ripps and Cahen defend their actions and request the court to reject the sanctions.
The dispute highlights the complexities surrounding intellectual property rights in the NFT space and underscores the challenges of enforcing court judgments in digital asset-related cases.
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