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Luxury fashion giant LVMH Group is being sued for the Non-fungible Token patent technology of its watches.
Golden Finance reported that a company that sells smartwatch face designs through immutable Token sales has sued LVMH, accusing the luxury fashion group of patent infringement. In a complaint filed with the federal court in Texas on March 10, Watch Skins accused LVMH of stealing its "groundbreaking Non-fungible Token display technology". Watch Skins claims to have developed a unique system that allows users to display verified Non-fungible Token artwork on smartwatches and owns multiple patents related to this technology. The company alleges that a smartwatch from TAG Heuer, a watch brand under LVMH, and other products from the group illegally use the Non-fungible Token display technology based on the three patents owned by Watch Skins.