American Rapper Lil Yachty is suing NFT company, Opulous. The Grammy-nominated rapper is accusing Opulous of utilizing his name and likeness without his consent, to earn a profit. Yachty claims that the company accumulated over 6.5 million dollars due to this fraudulent misuse of his image.
Opulous is a music-focused NFT company that claims to bring “Decentralized Finance to the music industry, changing how artists access the funding they need and providing a launchpad for the first music copyright-backed NFTs.”
However, Lil Yachty is not happy with how the company used his likeness. The lawsuit filing states that he spoke to Opulous multiple times in May 2021 about a partnership.
Furthermore, the legal team of Lil Yachty, whose real name is Miles Parks McCollum, writes in the NFT lawsuit, “There were no further communications between the parties, and accordingly no agreement or deal terms for plaintiff’s involvement in the defendants’ launch of the Opulous platform was ever reached.”
Meanwhile, less than a month later, Opulous stated upcoming “unmissable NFT drops…led by world-famous artists including Lil Yachty.”
The lawsuit filed in Los Angeles Federal Court focuses on trademark infringement. It states that Opulous knowingly used Lil Yachty’s image without permission. In total, they raised over 6.5 million dollars in venture capital funds.
Finally, seeing how this NFT lawsuit plays out will be interesting. It could set a precedent for other NFT trademark claims and provide a legal framework for these issues.