Hermès clashes with artist who created MetaBirkins NFT

The artist behind the colorful collection of fluffy non-fungible tokens based on the famous Birkin bag, which the scammers claimed to benefit from his ideas, received a similar accusation from Fashion House Hermes.

Mason Rothschild, the artist who created the NFT for bags that are trading for 200 Ethereum (about $ 790,000) as of Friday, has a scammer selling a fake version of his work called MetaBirkins for $ 35,000. Estimated to have earned. Rothschild said he saw “more and more fake MetaBirkins sold every hour” through the online marketplace OpenSea the day before his collection was published on the same website.

“People who bought them [NFTs], They can’t get that money back, “Rothschild said. “The blockchain is very relentless. You can’t call the credit card company to return it. When the transaction is complete, it’s a completed transaction.”

However, Hermes, whose original physical Birkin bag ranges from $ 9,000 to $ 500,000, said Rothschild was stripping its design and infringing on the company’s trademark.

“Hermes did not approve or agree to commercialize or create a Birkin bag by Mason Rothschild in the Metaverse,” the company said, and Hermès emphasized “a concrete representation of handmade physical objects.” Therefore, we have not entered the NFT market yet. ..

“These NFTs infringe on Hermès’ intellectual property and trademark rights and are examples of fake Hermès products in the Metaverse,” he added.

The decentralized world of NFTs makes it easy for anyone to sell thousands of images and claim that they belong to them. This is the issue that has caused widespread accusations of piracy.

“You claim that the valuable IP is an original piece and a Hermès bag,” said Colin Bell, head of intellectual property at law firm Brabners.

In theory, he said MetaBirkins is robbing Hermès of revenue sources if they want to sell their bags as NFTs. “The general public may be confused and think MetaBirkins is official.”

Rothschild refused to comment on Hermes and Bell’s remarks.

“Such a controversy reflects the nature of the” Archetypal Old West “of the NFT collection at this time,” said Harbottle & Lewis partner Kostyantyn Lobov.

“As brands become aware that their rights are being used without their consent (and sometimes a significant amount of money becomes a money changer in the process), this type of complaint may increase in the near future.”

OpenSea, an online marketplace, has been the focus of complaints from other NFT marketplaces, including: Nifty’s And the artist claiming the work was lifted by an illegal seller and displayed on the platform.

“The only way people see these my designs [NFT selling platforms] Jennifer Budlock, who was called Birdism and chose not to sell NFTs, Environmental impact Involved in some cryptocurrencies.

Her art was promoted as an NFT in OpenSea without permission and then deleted. “I have an intellectual property lawyer and a vigilant audience to warn of the theft of art, but it’s like a whac-a-mole,” she said.

OpenSea did not respond to the request for comment.

Unconscious buyers who buy fake NFTs are rarely reliable because they are usually traded in unregulated cryptocurrencies such as Ethereum, which is not covered by credit card policies.

NFTs can be sold on sites such as OpenSea, but transactions are processed on the blockchain. In the event of fraud, it can be difficult to track the true identity of the person who owns the wallet in which the cryptocurrency is stored.

Nadya Ivanova, Chief Operating Officer of L’Atelier, the trend forecasting arm of the French bank BNP, said: Paribas. “It’s up to individual consumers to see that information, just as they would when buying valuable physical assets.”

Hermès clashes with artist who created MetaBirkins NFT Source link Hermès clashes with artist who created MetaBirkins NFT

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