{"id":124889,"date":"2025-03-12T06:15:43","date_gmt":"2025-03-12T06:15:43","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=124889"},"modified":"2025-03-12T06:15:43","modified_gmt":"2025-03-12T06:15:43","slug":"luxury-fashion-giant-lvmh-sued-over-nft-patent-tech-for-watches","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=124889","title":{"rendered":"Luxury fashion giant LVMH sued over NFT patent tech for watches"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsA company selling smartwatch face designs through non-fungible tokens has sued LVMH, accusing the luxury fashion conglomerate of patent infringement.<br \/>\nIn a March 10 complaint filed to a Texas federal court, Watch Skins Corporation alleged that LVMH misappropriated its \u201cpioneering NFT display technology.\u201d<br \/>\nWatch Skins claimed it developed a unique system that allows users to display verified NFT artworks on smartwatches and holds multiple patents related to the technology.<br \/>\nIt claimed that a smartwatch from the LVMH-owned watch brand TAG Heuer and other products from the conglomerate\u2019s brands unlawfully used NFT display technology that was based on three patents that Watch Skins owned.<br \/>\nThe TAG Heuer Connected Calibre E4 (pictured) was one of the watches Watch Skins claimed infringed on its patent. Source: TAG HeuerLVMH is a multinational holding company that owns dozens of well-known luxury goods brands, including Louis Vuitton, Givenchy, TAG Heuer, Tiffany, Christian Dior, Hennessy and the champagne brand Mo\u00ebt &amp; Chandon.<br \/>\nWatch Skins said its first patent covers a system that verifies NFT ownership before allowing it to be displayed on a watch face, the second one covers a system where an NFT must be verified through a blockchain wallet before being displayed on a smartwatch, and the third focuses on the retrieval and display of customized watch faces based on NFT ownership.<br \/>\nIt claimed TAG Heuer encouraged customers to infringe on the patents by providing instructions on how to use its NFT display features.<br \/>\n\u201cThe watch allows the NFT to be displayed if owned by the user\u2019s crypto wallet [and] connects to a user\u2019s crypto wallet to guarantee authenticity of works displayed,\u201d the complaint explained.\u00a0<br \/>\nRelated: NFTs just had their worst performing year since 2020: DappRadar<br \/>\nWatch Skins requested a jury trial and compensation for lost profits and royalties due to infringement and a court order preventing LVMH from further use of the patented technology.<br \/>\nThe company announced the launch of the world\u2019s first blockchain NFT watch face marketplace at the Consumer Electronics Show in Las Vegas in 2020.\u00a0<br \/>\nThe mobile app gives consumers \u201cthe ability to purchase authentic, licensed smartwatch faces from their favorite brands,\u201d Watch Skins stated at the time.<br \/>\nCointelegraph has contacted LVMH for comment.<br \/>\nMagazine: Mystery celeb memecoin scam factory, HK firm dumps Bitcoin: Asia Express<a href=\"https:\/\/cointelegraph.com\/news\/luxury-fashion-giant-lvmh-sued-nft-patent-tech-watches?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsA company selling smartwatch face designs through non-fungible tokens has sued LVMH, accusing the luxury fashion conglomerate of patent infringement. In a March 10 complaint filed to a&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124889"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=124889"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124889\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=124889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=124889"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=124889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}