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February 10th, 2023
Now That Birkin NFTs Are Illegal, What Happens to the Ones Collectors Bought?
Blockchain Technology Co-Chair Jeremy S. Goldman is quoted in the article, “Now That Birkin NFTs Are Illegal, What Happens to the Ones Collectors Bought?” published by Observer. The article discusses the landmark case between Hermès and MetaBirkin creator, Mason Rothschild and the challenges associated with destroying the NFT collection. Jeremy is quoted saying, “Taking the MetaBirkins off the market will be nearly impossible. It’s a real unanswered question with blockchain: what happens in the event of infringement?”
Jeremy notes that in typical infringement cases regarding physical goods, a positive ruling would allow a company to impound and destroy the assets. He says, “It’s very difficult to get rid of the tokens or de-link the artwork.” While Hermès can prevent major NFT marketplaces from selling the MetaBirkins, there is not much they can do to prevent the collection’s sale outside of that. Jeremy adds, “It’s not so different than what happens in the real world If a manufacturer creates counterfeit goods, there’s not much control once they’ve left. It’s very hard to put that genie back in the bottle.”
Jeremy also notes that the value of MetaBirkins may see a bump in demand because of their new status as contraband. He identifies customer recourse as another issue made complicated by the digital nature of the case. He says, “Owners of physical assets typically have recourse against those who sell them counterfeit goods, such as fake luxury bags. It’s still unclear whether MetaBirkin holders can extract compensation from Rothschild.”
Read the full article here.
Other Quoted
Jeremy S. Goldman on Movies Inc: The Business of Film Podcast
Jeremy S. Goldman is a guest on Movies Inc: The Business of Film podcast discussing NFTs in the film and entertainment space. Read more.
March 16 2023
Top NY Judge Misled Lawmakers To Justify DiFiore’s Detail
Law360 quotes Ronald C. Minkoff on the testimony by acting Chief Administrative Judge Tamiko Amaker about the warranty of former Chief Judge Janet DiFiore’s multimillion-dollar security detail. Read more.
March 8 2023
GRWM: Everything You Need to Know About the Growing World of Online Influencers and the Opportunities it Presents for Lawyers
Chambers Associate interviews Dorian Slater Thomas on the growing influencer market and what the rise has meant for lawyers representing influencer talent. Read more.
February 27 2023