Feb 20, 2023
Yuga Labs Accused of Illegally Trademarking Iconic Wolf Skull Logo
Yuga Labs, the creator of the popular Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, is facing accusations of illegally trademarking its iconic wolf skull logo without proper licenses.
The allegation came to light when crypto Twitter user and NFT artist @Jdotcolombo discovered a post from April 5, 2021, on Easy Drawing Guides, a company specializing in drawing tutorials for children and beginners. The post advertised an easy step-by-step drawing tutorial for a wolf skull, which closely resembled BAYC’s official logo. This raised suspicion as BAYC’s Kennel Club collectibles launched on June 17, 2021.
Easy Drawing Guides responded to the commotion, confirming that Yuga Labs had no license to use the wolf skull drawing. To make matters worse, Yuga Labs had trademarked the unlicensed logo as its own. Easy Drawing Guides stated that the intellectual property rights for the drawing belonged to them as it was their original drawing and protected by their Terms and Conditions.
Cointelegraph confirmed that the terms and conditions of Easy Drawing Guides grant a non-transferable, non-exclusive, revocable, limited license to use and access the website solely for personal, non-commercial use.
The intellectual property dilemma is not new for Yuga Labs. One of the founders of the BAYC copycat NFT collection RR/BAYC filed an opposition notice against 10 trademark applications from Yuga Labs. In the notice, RR/BAYC co-founder Jeremy Cahen highlighted a list of “grounds for opposition” against Yuga Labs’ filings, claiming that the company “abandoned any rights” to certain logo and artwork designs due to BAYC NFT sales granting “all rights” of the digital images to the owners.
The controversy has sparked a debate among BAYC supporters, with some arguing that no intellectual property was breached in using the logo, while others believe that Easy Drawing Guides is entitled to some serious compensation.
Yuga Labs has yet to address the issue, but the situation has prompted a discussion on the importance of proper NFT promotion and marketing. As the NFT market continues to grow, it is essential for NFT owners to ensure that they are adhering to the legal guidelines of the industry.
For those looking to get into the NFT space, it is important to enlist the help of a reputable NFT marketing agency. A good NFT marketing agency can provide valuable guidance on how to effectively promote NFTs on social media platforms such as Twitter, as well as how to properly sell NFTs. With the right strategies in place, NFT owners can maximize their profits and protect their intellectual property rights.Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.