US Court Rules NFTs Eligible for Trademark Protection, Yuga Labs v. Ryder Ripps Case to Be Retrialed
According to a report by Jinse Finance, the U.S. Ninth Circuit Court of Appeals has issued a key ruling in the dispute between Yuga Labs and artist Ryder Ripps, clarifying for the first time that NFTs are considered "goods" under the Lanham Act and are thus eligible for trademark protection. The court rejected most of Ripps' defenses but overturned the previous $8 million in damages awarded to Yuga and remanded the case to the district court for retrial to determine whether the "imitation BAYC" NFTs sold by Ripps caused consumer confusion.
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