Netflix Nearing Major Deal to Acquire Warner Bros Discovery Assets 
Tesla Expands Affordable Model 3 Lineup in Europe to Boost EV Demand 
EU Prepares Antitrust Probe Into Meta’s AI Integration on WhatsApp 
Investors Brace for Market Moves as Trump Begins Second Term 
IKEA Launches First New Zealand Store, Marking Expansion Into Its 64th Global Market 
How the UK’s rollback of banking regulations could risk another financial crisis 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
Firelight Launches as First XRP Staking Platform on Flare, Introduces DeFi Cover Feature 
USPS Expands Electric Vehicle Fleet as Nationwide Transition Accelerates 
Ferrari Group to Launch IPO in Amsterdam, Targets Over $1 Billion Valuation 
Bitcoin Smashes $93K as Institutions Pile In – $100K Next? 
Bitcoin Bounces Hard: $87,592 Hit as Bulls Defend $80K – Next Stop $100K If $92K Breaks 
Investors value green labels — but not always for the right reasons 
ETHUSD Finds Its Footing: Buy the Dip for a Potential Surge Toward $3600 
UK Markets Face Rising Volatility as Hedge Funds Target Pound and Gilts 
Hermes International S.A, the French luxury goods company, took legal action against an artist, Mason Rothschild, for selling the “MetaBirkins” non-fungible tokens. The design house is the maker of the expensive Birkin bags that apparently was the inspiration for the MetaBirkins.
According to Reuters, Hermes International was able to persuade a federal judge in Manhattan to allow its case against MetaBirkins to proceed. The company was able to convince the court not to throw out its trademark lawsuit against Rothschild for the MetaBirkins NFTs.
The decision comes after Rothschild filed a motion to dismiss the case. But U.S. District Judge Jed Rakoff rejected the motion and ordered an upcoming hearing to proceed. The designer said he would be laying out his reasons later.
The news outlet stated this lawsuit is currently being watched by groups because it will also clarify how the copyright trademark law could be applied to digital assets such as the NFTs, which is a very popular thing right now. Some of these non-fungible tokens are being sold featuring well-known characters or depict famous brand logos and images; thus, the outcome of this trial will provide clarifications and guidelines to know what is allowed and what is not.
It was said that the lawsuit can also be used to verify the authenticity of artworks being sold as digital assets. Both Rothschild and Hermes or their lawyers are not immediately available for comments on the judge’s decision.
In any case, it was in January this year when Hermes filed a lawsuit against Rothschild for his MetaBirkins because the NFTs depicts Hermes’ Birkin bags. As written in the filing, Hermes said that the designer started selling his NFTs in December at the Art Basel art fair that was held in Miami. The company said Rothschild offered the MetaBirkins without proper permission from them, and the designer earned more than $1 million from the sale by early January.
In the filing, Hermes International described Rothschild as a "digital speculator," and his MetaBirkins sale was a "get rich quick" scheme. The company said that even with his title as an “artist,” this does not give him permission to use Hermes’ Birkin trademark.
The luxury brand further said that the sale has misled the consumers, who probably also helped with the sale. This is because there are people who thought the MetaBirkins were the NFTs of the original Birkins.
Finally, as posted on Bloomberg Law, Hermès is represented by Baker & Hostetler LLP, while Rothschild is represented by Lex Lumina PLLC. Their legal case is filed the Hermes Int’l v. Rothschild, S.D.N.Y., No. 1:22-cv-00384.
