PANews reported on July 24 that according to The Block, the U.S. Court of Appeals for the Ninth Circuit made an important ruling in the case of Yuga Labs suing artist Ryder Ripps, that NFTs are "goods" under the Lanham Act and can be protected as trademarks. The court upheld Yuga Labs' trademark claim against Bored Ape Yacht Club NFT, but revoked the previous fine of more than $8 million against Ripps, requiring the lower court to re-examine the issue of whether RR/BAYC caused consumer confusion.

The case began in June 2022, when Yuga Labs accused Ripps of devaluing its brand by issuing the RR/BAYC series of NFTs. The court rejected Ripps' defense of "expressive art" and First Amendment protection, but believed that further evidence was needed to prove the possibility of causing consumer confusion.