Two artists behind counterfeit Bored Ape Yacht Club nonfungible tokens agreed to transfer the digital assets to Yuga Labs Inc. pending an appeal in their trademark dispute.
Conceptual artists Ryder Ripps and Jeremy Cahen were ordered on Feb. 3 by a Los Angeles federal court to destroy any of the lookalike NFTs or transfer them to Yuga Labs to destroy. The two were found liable last year for trademark violations by selling identical looking NFTs on the same digital markets, and on a confusingly similar domain name, a practice called, cybersquatting.
The artists and Yuga Labs, which created the once …