Hermès is taking the creator of Birkin-inspired digital works to court in the first-ever NFT trademark trial. Here's what to know.
The crypto industry doesn't need any more legal battles, but the one playing out in a Manhattan court this week between a major brand and an artist over NFTs could prompt others like it.The NFT boom was many things — but it was a boon for artists, who found financial freedom in marketing and selling their works directly to collectors.
But major brands have been circling, driving a surge in NFT trademark applications last year. Even if they don't have NFT strategies today, many — like Hermès — are thinking about it.
“There’s a distinction between the act of creating artistic works, per se, and then using third-party brands to sell them to others.”"The fact Hermès has been making plans to enter the metaverse since 2019 — i.e. before Rothschild’s activity — may be slightly relevant in assessing whether Rothschild infringes their rights," he said.in August 2022, describing virtual retail store services featuring virtual goods.
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