US court rules NFT eligible for trademark protection, Yuga Labs v. Ryder Ripps case to be retried

According to Golden Finance, the 9th Circuit Court of Appeals in the United States has made a crucial ruling in the dispute between Yuga Labs and artist Ryder Ripps, clarifying for the first time that NFTs are "goods" under the Langham Act and are eligible for trademark protection in accordance with the law. The court rejected most of Ripps' defenses, but revoked the $8 million compensation previously awarded to Yuga and remanded the case back to the district court for retrial to determine whether Ripps' sale of the "imitation version of BAYC" NFT caused consumer confusion.