Hermes, the luxury company with a market capitalization of €142 billion ($162bn), has sued NFT creator Mason Rothschild, who designed the MetaBirkins NFTs. The New York lawsuit was filed last Friday alleging trademark infringement. On its face, MetaBirkins appears to be a straightforward trademark infringement, but we’re not so sure. If brands want to protect marks in the virtual world, ideally those marks should cover digital or electronic objects.
There’s more on the line than just the MetaBirkins NFTs. A recent report from Morgan Stanley estimated that by 2030 metaverse gaming and NFTs could increase the sector’s sales by 10% and enhance profits by 25%. So luxury brands will want to make sure they can protect their marks.
The lawsuit accuses the NFT creator of being “a digital speculator who is seeking to get rich quick by appropriating the brand METABIRKINS for use in creating, marketing, selling, and facilitating the exchange of digital assets known as non-fungible tokens (NFTs).” It continues that the “METABIRKINS brand simply rips off Hermès’ famous BIRKIN trademark by adding the generic prefix ‘meta’ to the famous trademark BIRKIN”.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
