Lil Yachty settles trademark infringement lawsuit against NFT seller Opulous, as reported by Rolling Stone. The suit filed more than a year ago, accused Opulous, which operates as Ditto Music, of falsely advertising the rapper as their flagship artist partnership, using his name, image, and likeness to raise more than $6.5 million in venture capital funds.
The settlement details have not been disclosed, but a document submitted to the court has confirmed the resolution, with both parties requesting 45 days to confirm the settlement in writing and file a dismissal of the action.
According to the original lawsuit, Lil Yachty had participated in conference calls with Opulous to explore a possible collaboration, but no agreement or deal terms had been reached or agreed upon. However, the company allegedly moved ahead with its NFT series, claiming it would be “led by world-famous artists including Lil Yachty” and using his photo for promotional purposes.
The lawsuit, filed in federal court in Los Angeles, stated 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.”
The complaint sought unspecified damages and claimed that the “defendant’s willful and intentional acts of unfair competition and false advertisement have caused and continue to cause great and irreparable injury and damage to plaintiff’s business and goodwill.”
In December 2020, Lil Yachty ventured into cryptocurrency on his own with YachtyCoin, an Ethereum-based token. The selection of Lil Yachty as Opulous’ choice celebrity partnership had roots in an actual encounter between the two parties, but the settlement brings an end to the legal battle.
