Olive Garden and Hermes NFTs are the first big turf battles in the metaverse, and it's going to get a lot worse
."And now is the time to start building. Whether you're a creator, whether you're a brand or a business, now is the time to start figuring out, how do I start building for this? What are the building blocks?"
Prior cases that could provide guidance are scarce. In 2016, movie theater chain Cinemark sued Roblox because some users had created virtual cities within Roblox that included Cinemark theaters. The case was dismissed two months later without any public resolution. The Tarantino NFT collection includes seven unique NFTs which will give its owners access to digital images of the original handwritten movie script, as well as previously unreleased audio commentary from Tarantino. Miramax, the Hollywood studio that produced the film,In the lawsuit, Miramax argues that Tarantino's NFT project violates the contract signed by both parties in 1993.
Tarantino has not relented. In its response to the lawsuit, the director's lawyers accused Miramax of using"the concept of NFTs to confuse the public and mislead this Court in an effort to deny artists such as Tarantino their hard earned and long-standing rights."The sky-high expectations driving the NFT market are evident in, which was recently valued by private investors at $13.3 billion.
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