The drama between Ryder Ripps and BAYC continues to brew. Most recently, Ripps has hired a team of lawyers and has eyes on a $100 billion settlement. Let’s take a look at the lead-up to this feud, including the lawsuit itself.
Ripps is the owner of gordongoner.com. On this website, he speculates on how the BAYC artistry has racist tendencies.
BAYC NFT creators, Yuga Labs, have argued with Ripps about claims of free speech and copyright infringement. Ripps has said that his project is simply protesting art, which is protected by free speech.
Ripps has decided to hire the services of legal firm WilmerHale after a lawsuit from YugaLabs back in June.
BAYC claims that the project devalues Yuga Labs’ work and hijacks their revenue streams, per the filing.
Ripps has flipped the script saying that a settlement package just north of $100 billion would be enough to convince him to drop the case.
The result of this court case could affect how BAYC is perceived, depending on how much publicity the proceeding gets. While this probably will not tank the project by any means, it is an important factor to think about on the micro side of things.
