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The IPKat is pleased to host the following guest post by Katfriend Paolo Maria Gangi (Studio Gangi) on a recent case addressing the legal nature of non-fungibletokens (NFTs). Finally, on 17 March 2023, Judge Cott issued his decision, dismissing Free Holdings’s complaint. a jpeg) stored on the cloud.
Introduction On February 8, 2023, the jury returned its verdict in the infamous case Hermès vs Rothschild [1] , a significant precedent that has received acclamation and flak alike. Secondly, it refused to recognize those nonfungibletokens as an ‘Art’ and held them disentitled for any protection under the ‘First Amendment’.
Hermès claimed that Rothschild’s digital artworks infringed upon its legally protected intellectual property rights. Ruling in favor of Hermès, Mason Rothschild was held accountable for trademark infringement, dilution, and cybersquatting on all three counts by a federal jury in Manhattan on February 8, 2023.
We have previously discussed the thorny intellectual property implications of non-fungibletokens (“NFTs”), units of data stored on a blockchain that signify ownership of a unique digital media item. 22, 2023 ). This issue recently came to a head in a 64-page federal court decision in Friel v. 43 (S.D.N.Y.
Thom Tillis and Patrick Leahy they will deliver findings by June 2023. ” So although it was the NFTs themselves that garnered prices comparable to real-life luxury handbags, Hermès’ infringement claim necessarily had to center around unauthorized use of the mark for the underlying artwork.
As previously reported on this blog , non-fungibletokens (or “NFTs”) recently emerged as one of the hottest new items on the art market—artists, auction houses, museums, sports organizations and others have jumped at the chance to create and sell their own versions of these unique tokens. Mason Rothschild.
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