Lil Yachty settles suit against Opulus ending months of legal battle
Emerging reports indicate that Lil Yachty, the American rapper, recently made an out-of-court settlement with NFT company in a trademark infringement lawsuit.
Lil Yachty settles legal suit
Lil Yachty filed an NFT trademark infringement case over one year ago against Opulus. Based on reports, the NFT lawsuit between Lil Yachty and Opulus is seemingly coming to a close, marking the end of months of legal battles.
In his legal suit, Lil Yachty claimed that the company Ditto Music and the NFT subsection Opulus allegedly infringed trademark rights associated with the rapper’s name and image.
Based on reports, the company and Lil Yachty were in contact about a possible collaboration. However, they have yet to agree; hence no deal was signed.
Reports indicate that in June 2021, the company seemingly continued with its plans and even launched an NFT collection using Lil Yachty’s image. Following the unlawful use of the rappers’ image, the company reportedly raised over $6.5 million in VC funds.
Lil Yatch’s lawsuit claimed that this company misleadingly attracted investors by convincing people that the rapper was a partner.
The lawsuit, which was filed in a federal court, said in part, “Of course, it is axiomatic that in order to offer the ownership interest to any musician’s copyrighted work, defendant, Opulous, must first have the agreement and consent of the musician at issue to sell the copyright to his or her work, with the musician in turn entitled to a share of the proceeds from the sale thereof.”
Based on court documents submitted on April 11, the two parties decided to settle the legal suit out of court. Lee James Parsons submitted the documents, which allegedly requested a 45-day period where they will present the settlement in writing, followed by a dismissal application. However, the details of the settlement have yet to be made public.
There has been a major problem with NFT trademark infringement in recent months. For instance, last month, Hermès won a trademark lawsuit against MetaBirkins NFTs. Based on reports, this ruling was a good precedent for NFT creators.