Watch Skins Corporation and luxury behemoth LVMH are currently getting in a legal battle. LVMH is accused by Watch Skins of violating its copyrighted NFT display technology.Â
The company alleges that LVMH’s TAG Heuer smartwatch and other branded products use its technology without permission. Watch Skins says these products violate three of its patents.
What is the Patented Technology?
A mechanism created by Watch Skins confirms NFT ownership prior to permitting an artwork to be shown on a watch face. Verification of NFT ownership is covered by the first patent. In the second invention, a blockchain wallet is used to check the NFT status.Â
According to the NFT owner, the third patent focusses on obtaining and displaying personalised watch faces. According to Watch Skins, TAG Heuer’s Connected Calibre E4 smartwatch uses these methods.Â
The company claims the smartwatch displays NFTs directly from crypto wallets. It also guarantees the authenticity of the digital art, which Watch Skins says violates its patents.
What does Watch Skins’ Claim?
According to Watch Skins Corporation, it developed a special method for smartwatches to show verified NFT artworks. It is the owner of several patents pertaining to this system. The business claims that LVMH is utilising its technology illegally.
Watch Skins seeks a jury trial in this matter. Along with compensation for lost profits and royalties. Furthermore, the company wants the court to stop LVMH from using the patented technology.Â
Previously, Watch Skins introduced the first blockchain-based NFT watch face marketplace in history. Customers were able to purchase licensed smartwatch faces from well-known brands thanks to this service.
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LVMH and the Growing Role of NFTs
LVMH is a multinational firm that owns many luxury brands. These include Louis Vuitton, Givenchy, TAG Heuer, Tiffany, Christian Dior, Hennessy, and Moët & Chandon.
The luxury group has explored NFT technology to enhance customer experiences. LVMH has experimented with adding NFT certificates to luxury watches. Such certificates update the ownership history and may unlock VIP events.
These digital additions can add extra value to high-end products. The case points out how NFT technology is becoming more and more significant in the luxury market, even though it had a rough year in 2024. It also shows that traditional brands are now embracing digital innovations.
What This Means for the Future?
The case pits established luxury brands against new digital innovators. It raises questions about intellectual property in the fast-changing world of NFTs. Both sides have a lot to lose in this battle.
Watch Skins seeks to protect its unique technology. LVMH aims to maintain its competitive edge in digital innovation. The outcome of the trial may set a new legal precedent. It could affect how digital art and NFTs are used in luxury goods.
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