Luxury fashion giant LVMH sued over watch NFT patent technology

PANews reported on March 12 that according to Cointelegraph, a company that sells smartwatch dial designs through NFTs has filed a lawsuit against luxury giant LVMH, accusing it of patent infringement. In a complaint filed in the Texas federal court on March 10, Watch Skins Corporation accused LVMH of misappropriating its “groundbreaking NFT display technology.” Watch Skins claims that it has developed a unique system that allows users to display verified NFT artworks on smartwatches and holds multiple patents related to the technology. The company claims that a smartwatch from LVMH’s watch brand TAG Heuer and products from other brands of the group illegally use NFT display technology based on three patents owned by Watch Skins.

Watch Skins requested a jury trial and sought damages for lost profits and royalties for infringement, as well as an injunction prohibiting LVMH from further using its patented technology. The company announced the launch of the world’s first blockchain NFT watch face marketplace at the 2020 International Consumer Electronics Show (CES) in Las Vegas. Watch Skins said at the time that the mobile app provides consumers with “the ability to purchase genuine licensed smartwatch faces from their favorite brands.”