Watch Skins, a company specializing in NFT-powered smartwatch dials, has filed a lawsuit against luxury conglomerate LVMH, accusing the company of infringing on its patented technology for displaying NFTs on smartwatches.
Watch Skins vs. LVMH
The lawsuit, filed in Texas federal court on March 10, alleges that LVMH misappropriated Watch Skins’ innovative NFT display technology. Watch Skins claims to have developed a unique system that allows users to display verified NFT artwork on smartwatches and holds multiple patents for this technology.
According to the lawsuit, TAG Heuer, a watch brand under LVMH, and other brands within the group have illegally incorporated Watch Skins’ patented NFT display systems in their products. The patents in question cover several aspects, including verifying NFT ownership before it appears on a watch face, using a blockchain wallet to verify ownership, and enabling the display of customized watch faces based on NFT ownership.
Watch Skins accuses TAG Heuer of encouraging customers to use its own NFT display features, thereby infringing on the patents. The company is seeking damages for lost profits and royalties, as well as a court order to stop LVMH from further using the patented technology.
In 2020, Watch Skins launched the world’s first blockchain-based NFT watch face marketplace, allowing users to purchase licensed smartwatch faces while ensuring the authenticity of displayed NFTs through a connection to a crypto wallet.
Also Read: NFLPA, DraftKings Reach NFT Settlement Deal, Terms Pending
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