Two recent lawsuits over Caked Ape non-fungible tokens—digital depictions of apes covered with frosting and candles—spotlight a need for digital artists in the fast-moving and decentralized NFT community to recognize the risks of setting up a valuable project with informal, handshake agreements, legal experts say.
Members of the Caked Ape NFT art project, a spinoff of the highly successful Bored Ape NFTs, are suing each other based on financial agreements made over text messages on Discord, the popular messaging platform where many NFT projects are organized.
Artist Taylor Whitley, known as Taylor.WTF, claimed the project’s other founders infringed his copyrighted ...
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