Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

NEWS

By Blake Brittain

(Reuters) -French luxury house Hermes International has asked a Manhattan federal court to block artist Mason Rothschild from promoting or owning his “MetaBirkin” non-fungible tokens after a jury found they violate Hermes’ trademark rights in its famous Birkin bags.

Hermes said in a court filing Friday that Rothschild has continued to market his NFTs despite the jury’s verdict last month. It asked the court to force him to stop using “Birkin” trademarks and to transfer the MetaBirkins website, the NFTs that he still owns and his income from sales of the tokens since the trial to Hermes.

Rothschild’s attorney Rhett Millsaps on Monday called the filing a “gross overreach by Hermes and an attempt to punish Mr. Rothschild because they don’t like his art.” He said they will oppose Hermes’ motion this week.

Representatives for Hermes did not immediately respond to a request for comment Monday.

NFTs are unique tokens on blockchain networks that are often used to verify ownership of digital art. Hermes sued Rothschild last year over his MetaBirkins, 100 NFTs associated with images depicting the bags covered in colorful fur.

The fashion house called Rothschild a “digital speculator” and the NFTs a “get rich quick” scheme, and said over $1 million worth of the tokens had been traded in less than a month after they were introduced.

Rothschild, whose legal name is Sonny Estival, countered that the works are an absurdist statement on luxury goods and immune from the lawsuit based on First Amendment protections for art. A jury disagreed and ruled for Hermes in February, awarding the company $133,000 in damages.

Hermes said in its Friday court filing that Rothschild receives a 7.5% royalty for all MetaBirkin sales, and that he has continued to promote the NFTs on the MetaBirkins website and social media accounts since the verdict.

Rothschild has continued acting as he has since November 2021 — brazenly violating Hermès’s intellectual property rights,” Hermes said.

The company said a permanent injunction was needed to stop Rothschild’s conduct because he has “shown that he cannot be trusted,” alleging Rothschild had “repeatedly made false statements” in business dealings and at trial.

The case is Hermes International v. Rothschild, U.S. District Court for the Southern District of New York, No. 1:22-cv-00384.

(Reporting by Blake Brittain in Washington)

 

Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts