Non-Fungible Insights: Blockchain Decrypted

On April 21, 2023, United States District Judge John F. Walter ruled for Yuga Labs, Inc. (Yuga) and its Bored Apes Yacht Club (BAYC) NFT collection in its trademark infringement suit against conceptual artists Ryder Ripps and Jeremy Cahen (collectively, the “Artists”).

Non-Fungible Tokens, known as NFTs, recently made headlines with sales of individual tokens valued at millions of dollars, comparable to sales of fine art.  Christie’s– a “conventional” auction house – sold its first NFT, the piece “Everydays: The First 5,000 Days” by the artist Beeple – for a staggering $69 million.