Topic: Metaverse and nfts

On February 8, 2023, a jury found Rothschild liable for trademark infringement, trademark dilution and cybersquatting based on Rothschild’s use of the Birkin mark to promote and sell the MetaBirkins NFTs.

Similar to esports, the key monetization opportunity for the sports metaverse lies in sponsorship, streaming, broadcasting and advertising.

Luxury design house Hermès International and Hermès of Paris, Inc. (Hermès) is suing artist Mason Rothschild in the U.S. District Court for the Southern District of New York for trademark infringement and dilution, misappropriation of its BIRKIN trademark, cybersquatting, false designation of origin and description, and injury to business reputation.

An English court has reportedly recognised a non-fungible token (NFT) as a type of property in an as yet unreported High Court decision.

The Metaverse has moved beyond science fiction movies like Ready Player One to become an important reality. Fortune magazine recently said that the Metaverse might just be the most important tech trend since the iPhone.

The metaverse will offer an immersive digital world that feels physical and tangible in nature. Interacting with metaverse has the opportunity to shift the internet in a new direction and pose new intellectual property rights for developers, contributors, and users.

For many years, the immersive three-dimensional digital world has been left to the cinematic experience. However, the emergence of the metaverse presents an opportunity to translate everyday activities – working, attending a concert, travelling, shopping, socializing – into a parallel digital universe.

We consider some of the key legal and regulatory issues future stakeholders may need to consider in relation to the Metaverse.

Suddenly the metaverse is everywhere. But what are the potential legal ramifications of living and working in this parallel universe?

In technology, first-mover advantage is often significant. This is why BigTech and other online platforms are beginning to acquire software businesses to position themselves for the arrival of the Metaverse. They hope to be at the forefront of profound changes that the Metaverse will bring in relation to digital interactions between people, between businesses, and between them both.