Dolce & Gabbana in the storm: NFTs collapse to 97% of their value

By KMatt | Blogging Crypto | 19 May 2024


D&G finds itself in the midst of a class action lawsuit filed by a dissatisfied customer, accusing the renowned Italian fashion house of mishandling the launch of its clothing NFTs for the Metaverse.
According to the complaint, the situation has led to a 97% collapse in the value of digital assets.

Shortages and delays in deliveries

At the heart of the matter is the DGFamily Collection, launched in March 2024 with the aim of offering owners exclusive digital and physical benefits. Broken promises.
The complaint alleges that the digital clothing NFTs were delivered 20 days later than expected and, once available, could only be used on a platform with a limited number of users. Additionally, owners had to wait another 11 days to actually use them due to technical issues.

UNXD under attack

Also involved in the affair is the UNXD platform, a luxury NFT marketplace that collaborated with D&G for the launch of the collection. The platform usually praised for the attention to detail and exclusive experiences offered to users, now finds itself at the center of criticism for its role in managing the situation.

The story takes place in a context of slowdown in the NFT market. D&G's lawsuit raises important questions about the liability and reliability of traditional companies in the NFT world. It would be necessary to wait for big brands to keep their promises and guarantee timely delivery of digital products to maintain consumer trust.

 

If you liked the article, subscribe and leave a like to not miss the next updates

Here below some links if you'd like to support me:

 

Open your BBVA account and card at €0 forever and get €10, 4% cashback on purchases and 4% interest on deposited funds. Use my code:
Apri il conto e carta BBVA a 0€ per sempre e ottieni 10€, 4% di cashback sugli acquisti e 4% di interessi sui fondi depositati. Usa il mio codice:

https://www.bbva.it/general/apri-il-conto.html

77660060118763

 

Sign up to Nexo and get $5 in Bitcoin,16% APY on your stablecoins and 2% cashback on Nexo Card by depositing and holding at least $100 for 90 days

https://nexo.com/ref/j6atsfddtw?src=android-link

 

Freecash (earn 20/100$ each month without cash investment)

https://freecash.com/r/Hello8

How do you rate this article?

76


KMatt
KMatt

Welcome to my blog <3 I love playing videogames, interested in crypto, support #lgbtqi+ and human rights


Blogging Crypto
Blogging Crypto

Blogging crypto

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.