As the largest NFT secondary trading market at present, opensea, the platform’s extremely low chain threshold makes it difficult to implement supervision, giving birth to a lot of false projects.
Recently, the rapid growth of overseas NFT sales has begun to slow down.
She suggested that the brand clearly mention NFT related interests in any trademark exposure and license agreement, and formulate mandatory rules for its use: “for example, you must ensure that NFT will be used in a market with good reputation and in line with the values of the brand or intellectual property owners.
Florinecodevelle, a lawyer of casalonga, an intellectual property company headquartered in Paris, has participated in many NFT related seminars and found that many brands have not considered the opportunities and risks brought by NFT.
At present, non-homogeneous or semi homogeneous tokens are common.
At the 2022 internationaltrademarkassociationconference (hereinafter referred to as “the international trademark conference”) held in Washington, D.C., from April 30 to May 4, intellectual property lawyers from all over the world jointly discussed a series of legal issues affecting the brand, Topics include NFT and metauniverse.
Later, the NFT series was removed from the shelves after Hermes formally lodged an infringement protest.
According to the Research Report of McKinsey’s 2022 fashion technology status, the compound annual growth rate of NFT market value surged by 750% from $41million to $24.9 billion between 2018 and 2021.
According to nftgo data, the daily trading volume of NFT market decreased by 66% from May to June 2022.
If not, the new scope of trademark protection authority should be broadened as soon as possible.” However, sylviebenoliel-claux, founder of benolielavocats in Paris and chairman of the French Association of trademark and design law practitioners, has paid more attention to this issue..
Once the NFT of “metabirkins” was put on sale, Hermes accused the designer of infringing the brand’s intellectual property rights.
Among these uncertainties caused by the lack of rules, the most experienced by the fashion industry is the copyright issue.
Vaultnft launched by stockx can be used to exchange physical sneakers.
What’s more interesting is that while Hermes accused Mason of infringement, Mason himself also suffered from infringement.
A large number of imitations of “metabirkins” on opensea.
The complaint said: “Nike has not approved or authorized the Nike brand vaultnft sold by stockx.
Like any new thing, the roller coaster like ups and downs of NFT market is due to the multiple uncertainties caused by the fact that the general rules have not yet been fully established.
The series is based on the outline of herm è s platinum (Birkin) bag, with fluffy texture and various colorful patterns.
From blockchain technology to NFT applications, which should have been a great progress in copyright recognition and protection, why do copyright problems occur frequently? NFT market, while rapidly realizing ecological opening and prosperity by virtue of decentralization and low access threshold, has also created a mixed situation.
The designer said that a large number of imitations of “metabirkins” have appeared in NFT trading markets such as opensea…
The decentralization of NFT makes it easy to sell and circulate digital art works, and everyone who uploads works to the blockchain can claim to be the copyright owner, which also breeds infringement chaos in the NFT market.
Fashion goods have appeared in NFT market for less than two years, and copyright disputes over such goods have been common.
In addition, you must ensure that your brand can retain all relevant intellectual property rights within the scope of NFT created by a third party.” In response to the “chaos” behind NFT, many legal experts said that what the brand needs to start is to “review the use and registration of existing trademarks to ensure that the current classification of goods and services is sufficient to cover NFT products and a wider range of digital fashion.
The application of blockchain technology in the fashion industry was first traced to anti-counterfeiting, and later applied to the confirmation of digital content.
Different from cryptocurrency (homogeneous token), NFT is indivisible and unique to prove the ownership of digital assets.
At the end of last year, masonrothschild, a digital art designer in Los Angeles, USA, released the NFT series called “metabirkins” at the Basel art exhibition in Miami.
Those unapproved products are likely to confuse consumers, establish false associations between these products and Nike, and infringe Nike’s famous trademarks.” Nike also said that stockx has sold more than 500 Nike brand NFTs so far, so it asked stockx to stop selling and marketing any vaultnft with Nike logo and compensate the brand for money losses.
NFT is essentially a derivative of cryptocurrency.
In February this year, Nike sued stockx, a well-known secondary shoe trading platform, in the federal court of New York, and accused the platform of selling nike shoes NFT without authorization.