The people behind a spinoff project based on the mega-popular Bored Ape Yacht Club (BAYC) NFT collection are suing each other in federal court over who gets what share of the profits and who gets to claim ownership of their brand new collection.
It is a messy back-and-forth representation of a larger issue in the world of NFTs.
The uncertainty is leading to more and more infighting and lawsuits.
Dueling lawsuits have been filed by the four people who launched their BAYC spinoff collection called Caked Apes.
The collection sold out in less than a day, generating over $2 million in revenue.
In his suit, Whitley claims that the other four Caked Apes members took his original designs and kicked him out of the project, and that he tried to take ownership of their shared venture and also abused copyright law to get the NFTs delisted.
One of the first cases dealing with the Bored Ape license was handled by John Snow, the attorney for the company.
I was once again trying to keep this matter private but since it's becoming public I want to inform the community that I actually filed a lawsuit against @CakedApes on Friday 3/18/2021, several days before they filed anything. pic.twitter.com/obYyXLYTxV
— taylor.wtf 💾ᴺᶠᵀ (@TAYL0RWTF) March 21, 2022
The spinoff projects created by those who purchased official BAYC NFTs are technically legal because of the unlimited derivative license granted by owning a Bored Ape.
The rest of the group has not lost their love for Whitley. According to a statement obtained by Bloomberg, the other three partners argue that the claim to the intellectual property is bogus because he did not contribute any original drawings to the caked apes creations.
The collective said in their countersuit that Taylor tried to take a bigger piece of the pie after seeing the success of Caked Apes.
He sees the alleged ousting as a violation of his contract.
CAKED APES SUE TAYLOR WHITLEY
A thread:
From day one, Caked Apes has been a collaborative effort with everyone agreeing up front on the fair compensation based on the value that each team member added to the project. ⬇️
— Caked Apes (@CakedApes) March 21, 2022
It's a convoluted and bitter fight that won't end soon. It will be interesting to see the courts catch up with the strange new world ofBlockchain ventures.
Bored Ape NFT spinoff venture went sour in a legal fight.
Bored Ape launched a coin and it isn't going well.
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