Hermès’ trademark Birkin bag was at the center of a landmark case that tested the bounds of IP in … [+]
In a piece that ran last week, I examined how companies could benefit from the tokenization of one of their most valuable real-world assets (RWA). The study of how musicians monetized their art (their IP) shed light on how companies could do the same. Shortly after publication, a landmark case highlighted the importance of IP and how digital assets could factor into companies’ Web3 and metaverse strategies.
Hermes International SA v. Rothschild, settled a dispute between Mason Rothschild, creator of MetaBirkins NFTs, and Hermès. The case focused on whether Rothschild’s work was an infringement of Hermès “Birkin” trademark rights or an expression of free speech protected by the First Amendment.
Decided by a nine-person jury in a Manhattan Federal court, the monetary damages were a rounding error for a company that booked €8.98 billion in revenue in 2021, but for companies that derive their market value from their IP, the decision was…