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Attorneys Forecast Legal Challenges In NFTs
As nonfungible tokens, or NFTs, continue to grow in popularity through cryptocurrency purchase, sale and trade online, opportunities for entertainment attorneys in the emerging industry also are booming. For this article, attorneys from intellectual property to fintech and securities, and consumer and corporate protections, shared how they're grabbing hold of NFT-related work and the challenges they foresee.
The NFT craze has sparked intellectual property issues and opportunities for trademark and copyright litigation, according to Lewis Brisbois partner Jonathan Goins, who is based in Atlanta, GA. Goins said he'd been paying attention to a lawsuit brought by French luxury design company Hermès against NFT digital artist Mason Rothschild for creating and selling "MetaBirkins," virtual furry interpretations of Hermès' high-end Birkin handbag, as minted NFTs. Hermès International v. Rothschild, 1:22-cv-00384 (S.D.N.Y.).
"They sued him claiming that's trademark infringement. He didn't get permission or authorization to use the Birkin handbag trademark," Goins said. "It's possible [Rothschild] may have a certain First Amendment defense to some of these trademark claims."
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