In today's episode of WHAT THE FCUK WERE THEY THINKING, an NFT artist by the name of Mason Rothschild got what was coming when a judge ruled against him in what is a history-making trial result.
In short, Rothschild created NFT representing Hermès Birkin bags and made some cash by selling said NFTs.
All good so far except Hermès Birkin bags, both name and shape, are trademarked and Rothschild had no rights to use them.
Hermès sued, and won.
Sometimes people suprise me. I have nothing against creators trying to make money with NFTs and I have nothing against wealthy companies like Hermès but it's baffling to me that he thought he could get away with it.
Rothschild said he was allowed to turn trademarked pieces into NFTs because it qualifies as freedom of expression, as protected by the First Amendment.
Hermès argued that by selling Hermès Birkin bag NFTs, the artist was implying an association with the brand and the product that wasn't there.
That's because these NFTs were not approved by Hermès in any way, shape or form.
Rothschild made around $120k from selling these NFTs.
However, the jury awarded $133,000 in damages to Hermès, so he's now about $13,000 out of pocket.
Not to mention he'll probably have to cover the legal costs as well.