Yuga Labs, RR/BAYC settle lawsuit over Bored Ape imitation NFTs

Yuga Labs has settled its lawsuit against the RR/BAYC project, which it accused of imitating the Bored Ape Yacht Club (BAYC) NFT collection, CoinDesk reported. The agreement concludes a two-year legal dispute with artists Ryder Ripps and Jeremy Cahen. While the RR/BAYC project claimed its work was a parody using BAYC images, Yuga Labs argued that it constituted trademark infringement and created consumer confusion.