- Yuga Labs had filed a lawsuit seeking $6.5 billion in damages against the artist behind the New Flesh Tone token.
- Yuga Labs, a blockchain technology company, has won a key victory in a case against Ryder Ripps.
- The NFT artist filed a counterclaim against Yuga Labs.
Yuga Labs had filed a lawsuit seeking $6.5 billion in damages against the artist behind the New Flesh Tone token. The company is suing the NFT artist, who has created a digital currency that looks like a similar idea to the one created by Yuga Labs. The counterclaim filed by the artist in response stated that the artist was not guilty of any wrongdoing.
Yuga Labs, a blockchain technology company, has won a key victory in a case against Ryder Ripps, an American company that has been accused of infringing on Yuga Labs’ intellectual property.
The case, which has been ongoing for over two years, centers around Ryder Ripps’ sale of “NFTs,” or “non-fungible tokens,” which are digital tokens that are unique and can only be used by the owner of the token.
According to Yuga Labs, Ryder Ripps’ sale of NFTs violated its intellectual property rights, and the company has now won a court injunction that will prevent Ryder Ripps from selling NFTs in the US. This is a significant victory for Yuga Labs, as Ryder Ripps is one of the largest sellers of NFTs in the US. In addition, the injunction will prevent Ryder Ripps from selling NFTs anywhere in the world.
This case demonstrates the importance of intellectual property protection in the blockchain industry, and it is likely that other companies will take note and protect their own intellectual property.
The NFT artist had filed a counterclaim against Yuga Labs. The NFT artist’s counterclaim states that the company’s digital currency does not infringe on the patent-pending technology created by Yuga Labs. The lawsuit is ongoing.