It claimed TAG Heuer encouraged customers to infringe on the patents by providing instructions on how to use its NFT display features.“The watch allows the NFT to be displayed if owned by the user’s crypto wallet [and] connects to a user’s crypto wallet to guarantee authenticity of works displayed,” the complaint explained. Related: NFTs just had their worst performing year since 2020: DappRadarWatch 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.
In a March 10 complaint filed to a Texas federal court, Watch Skins Corporation alleged that LVMH misappropriated its “pioneering NFT display technology.”Watch 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.
Watch 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.
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Author / Journalist: Cointelegraph by Martin Young
The story "Luxury fashion giant LVMH sued over NFT patent tech for watches" has 382 words across 13 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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