Famous luxury goods Hermes brand won their case against “MetaBirkins” creator Mason Rothchild (real name Sonny Estival). The nine-person NYC Federal Court jury found Rothchild guilty on all 3 counts-trademark infringement and dilution, cybersquatting, and unfair competition. Cybersquatting is registering, selling, or using a domain name with the intent of profiting from the goodwill of someone else’s trademark. This case is the first of its kind in the virtual world and strengthens brand owners rights. The use of non-fungible tokens certifies a digital asset is unique and provides proof of ownership with a unique identification code. Rothchild was guilty of using non-fungible tokens that mirrored the famous Birkin Bag but bore the name of “MetaBirkins”. This was decided by the court to be misleading and confusing to consumers. Hermes was awarded roughly $ 133,000 in damages for the misuse of their Trademark.
