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Outcome of Yuga Labs' legal action over unpaid royalties by end of 2024
5
Resolution / Starting Odds
Yuga Labs wins • 33%
Settled out of court • 33%
Yuga Labs loses • 33%
Court documents or official announcements from Yuga Labs
Story
Yuga Labs and Nina Chanel Abney Studio Face Backlash Over 6% Royalty Fee on New NFT Collection
May 31, 2024, 02:44 PM
Yuga Labs, in collaboration with Nina Chanel Abney Studio, is facing backlash for enforcing a 6% royalty fee on their new Super Punk World NFT collection. The company has stated that they will pursue legal action, including recovering unpaid royalties, attorney's fees, and other costs, against those who fail to comply. This move has sparked controversy within the NFT community, with many criticizing Yuga Labs for adopting aggressive tactics. The enforcement of royalties is seen by some as a deterrent, but others believe it could damage Yuga Labs' reputation and relationship with its community.
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