The parties told the court on Tuesday that they resolved their dispute and filed proposed orders that would permanently block Ripps and Cahen from using Yuga’s imagery and trademarks

Bored Ape Yacht Club maker Yuga Labs has settled a lawsuit against conceptual artist Ryder Ripps and his business partner Jeremy Cahen over ​their alleged counterfeiting of its non-fungible tokens, according to a filing in ‌California federal court (US).

The parties told the court on Tuesday that they resolved their dispute and filed proposed orders that would permanently block Ripps and Cahen from using Yuga’s imagery and trademarks.

Ripps said ​in a statement on Wednesday that the settlement agreement was confidential. Yuga ​attorney Moez Kaba of Hueston Hennigan declined to comment on the settlement.

NFTs ⁠are blockchain-based assets used to verify the authenticity of digital objects and are often ​associated with pieces of digital art. Yuga’s Bored Apes, which depict stylized cartoon apes, are some of ​the most well-known digital art NFTs.

Yuga accused Ripps and Cahen in a 2022 lawsuit of making millions of dollars from selling counterfeits of its Bored Apes under the pretense of satire. Ripps and ​Cahen said that their versions of the tokens which they called works of appropriation art — ​lampoon allegedly racist and anti-Semitic imagery in Yuga’s NFTs and branding.

Yuga denied the allegations and said ‌Ripps ⁠was spreading ridiculous conspiracy theories online to sell “knockoff” NFTs.

US District Judge John Walter ruled for Yuga before trial in 2023 and said that Ripps and Cahen’s tokens were likely to cause confusion in the NFT market. He awarded Yuga $1.5 million in damages, which later ​surged to more than $8.8 ​million with attorneys’ ⁠fees and other costs.

The 9th US Circuit Court of Appeals overturned Walter’s decision last year and said a trial was necessary to ​determine whether the fake tokens infringed Yuga’s trademarks.