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Cryptocurrency Ecosystem => NFTs & Collectibles => Topic started by: Tamsialu$$ on June 26, 2022, 01:12:25 AM

Title: Yuga Labs Lawsuit Accuses Ryder Ripps of 'Scamming Consumers' With Fake Bored Ap
Post by: Tamsialu$$ on June 26, 2022, 01:12:25 AM

The suit claims that the artist's "deliberate effort" to devalue Bored Ape Yacht Club NFTs is "no mere monkey business."NFTs, or non-fungible tokens, are unique blockchain tokens that prove ownership over digital or physical assets, such as pieces of artwork or items in video games.

Ripps, referred to in the suit as "a self-proclaimed 'conceptual artist,'" is the creator of RR/BAYC, an  NFT collection that features identical BAYC images he did not purchase. Ripps first began minting his RR/BAYC NFTs on May 13 on Foundation, and after Yuga sent him an initial DMCA takedown claim, it quickly rescinded the claim when Ripps fought it. OpenSea, the largest NFT marketplace, has since removed Ripps's collection because of "a claim of intellectual property infringement," but not before it saw nearly $3.5 million in total volume traded.more info (https://decrypt.co/103824/yuga-labs-lawsuit-accuses-ryder-ripps-of-scamming-consumers-with-fake-bored-apes)