<h4>NFTs represent the digital ownership of an underlying piece of art recorded on the blockchain. The rising popularity of NFTs has led to many &#39;derivative NFTs&#39; and intellectual property infringements of NFTs. Derivative NFTs are collections created by leveraging the creative assets of previous NFT collections.</h4>Are derivative NFTs an infringement of Intellectual Property (IP) rights? Recently, Yuga Labs, the founder of Bored Ape Yacht Club, filed a complaint against Ryder Ripps. Ryder Ripps is a conceptual artist who created the recent NFT collection titled: RRBAYC OFFICIAL Ryder Ripps. The claim states that Ryder Ripps has created a collection purporting to be the same as the original BAYC collection. That is an outright breach of the fair use of the trademark. The trademark fair use typically requires a non-competing and non-confusing use of a mark. This case highlights one of the longest-standing issues facing the NFT industry: IP infringement.Read the whole article <a href="https://www.altcoinbuzz.io/nft/are-your-nft-intellectual-property-rights-protected/" rel="noopener noreferrer nofollow">here</a>.

Are Your NFT Intellectual Property Rights Protected?

Altcoin Buzz

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