Troubled cryptocurrency fintech Yuga Labs is about to face more lawsuits in relation to its nonfungible tokens (NFT) collection, Bored Ape Yacht Club (BAYC), and other projects.
Rosen Law Firm, a global law firm focused on investor rights’ protection,
Previously, law firm Scott+Scott filed a class-action suit against Yuga Labs in June 2022, arguing that the firm “inappropriately induced” the community to buy BAYC NFTs and ApeCoin.
Yuga Labs, a Miami-based company, has been additionally involved in some disputes concerning trademark and copyright issues. In June, Yuga Labs filed a lawsuit in a Los Angeles court against artist Ryder Ripps, claiming that he had used Yuga Labs’ trademarks to promote his own NFT collection. A subsequent court filing suggested that Yuga Labs lacked copyright registration for BAYC.
“Yuga Labs does not have a registered copyright, and there is, therefore no imminent threat of a lawsuit for copyright infringement,” the filing stated.
Despite facing a lot of issues, Yuga Labs has been taking measures to expand its NFT ecosystem. On Jan. 18, Yuga Labs launched its new Dookey Dash game, a skill-based minting experience allowing BAYC investors to claim free tokens in order to compete for the highest score and earn new perks.
