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Fatal Mistakes Made By The ‘Bored Ape Yacht Club’ & ‘Crypto Punks’ NFT Projects

Traverse Legal Blog

These NFT drops offer valuable learning lessons which every NFT project, brand, and company must consider before launching their NFTs project. These two projects offer a roadmap for any company, brand, or agency looking to launch an NFT project. The “Crypto Punk” brand name is a trademark. NFTs are no different.

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Brands to the Metaverse and Beyond! Part 1…

The IPKat

Brands are taking advantage of the increased consumer engagement by launching projects such as Nike’s Nikeland and Balenciaga’s ‘ Afterworld ’. So, what about brand protection in this unchartered territory? Adidas and Prada recently launched Adidas : Prada, Re-Source , a collaborative NFT art project. ESRT Empire State Building, L.L.C.

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Ten things to know about NFTs

The IPKat

Digital assets can be protected by IP and have always been capable of being licensed or assigned via a contract, or protected as a trade mark. There have also been complaints where creators have tried to NFT their own creativity but by doing so have breached a contract.

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COPYRIGHT IN METAVERSE

Intepat

In one notable case, an NFT buyer of a famous digital artwork assumed they had purchased full copyright rights, only to find they could not legally reproduce or profit from the art without the creator’s consent. While NFTs verify the ownership of a digital item, they do not inherently transfer copyright to the buyer.

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Bombay High Court Rules that Copyright Registration of a Label is not Compulsory

Kashishipr

According to SSPL, this practice was dishonest as it could make NTC benefit from the reputation and goodwill of SSPL’s brand name. NTC didn’t own the copyright in the ‘SOYA DROP’ artwork or label. NTC failed to prove that it had used the artwork or label first or that SSPL’s artwork wasn’t original.

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Trademarks and the Metaverse: Imaginary Rights or Real Wrongs?

SpicyIP

Hermes has sued a Californian artist, Mason Rothschild, for his “MetaBirkins” digital artworks alleging trademark infringement. If every real-world brand is also entitled to register all its goods and services in the virtual world, the trademark registration system would be considerably burdened. Dec 21, 2021.

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Print-on-Demand Services Face More Legal Woes–Canvasfish v. Pixels

Technology & Marketing Law Blog

These defense-favorable outcomes may work in the short term; but they leave open the potential liability of the contracting vendors (which may drive them out of the industry, leaving the marketing agent with no one to outsource to) and as well as the marketing agent’s possible secondary liability exposure for the vendors’ activities.

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