According to court documents obtained by Rolling Stone, Lil Yachty‘s trademark infringement lawsuit filed against NFT seller Opulous more than a year ago has finally been settled.
The original suit alleges that the company, which does business under the Ditto Music moniker, used the superstar rapper’s name, image, and general likeness to misleadingly portray him as their flagship artist partnership in order to raise more than $6,500,00 in venture capital funds.
Though specific details have not been released, according to the settlement document submitted on April 11 by Lee James Parsons, founder of the Singapore-based company, the court was notified of the resolution, with the involved parties requesting 45 days “to confirm the settlement in writing and file a dismissal of the action.”
Per the original lawsuit, the rapper (born Miles Parks McCollum) participated in conference calls exploring the possibility of a collaboration, however “no agreement or deal terms” had been reached or agreed upon. Nevertheless, in June of 2021, the company allegedly moved ahead with its NFT series claiming it would be “led by world-famous artists including Lil Yachty” and attached a photo of him for promotional purposes.
In December 2020, Lil Yachty ventured into crytocurrency on his own with YachtyCoin, an Ethereum-based token.
The lawsuit filed in Los Angeles federal court stated. “Of course, it is axiomatic 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 seeks unspecified damages and claims 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.”
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Author: Al Denté
Photo: Anton Mac