Metaverse: the first Fashion Week and the opportunities for the protection
The protection of a brand in the metaverse is a highly topical issue given the underlying economic scenarios and of great in-depth analysis by professionals in the sector, given the lack of effective regulation on the matter.
The metaverse is essentially a virtual world, mainly inherent in the gaming / entertainment and fashion sector, with an underlying economic system.
Economic exchanges take place in the metaverse because non-fungible assets/tokens (NFTs) are purchased through blockchain and cryptocurrency systems.
A Fashion Week also took place in the metaverse recently: with the format of the virtual fashion show, with avatars of models and models, with digital locations animated by music, with outfits and accessories created through NFT, all of which can be purchased by the participants. Over 60 fashion brands attended the event, including Dolce & Gabbana, Hugo Boss, Etro, Tommy Hilfiger, Hogan.
It is estimated that in 2030 the value of the metaverse will be around 8-13 trillion dollars.
The theme presents obvious legal and technical aspects: among all, the question of the protection of trademarks, especially if using them in the metaverse is a subject other than the legitimate owner of the real world.
Perhaps a less relevant problem for well-known brands given the ultra-commodity protection they enjoy. But for everyone else? An obvious solution could be to extend the protection and surveillance of one’s brand in the categories attributable to the virtual world (Nike has been a trailblazer in this in the USA and EU), but always with a view to general cost balancing.
Are you thinking of using your brand also in digital reality? Do you feel that your brand rights have been violated in the metaverse?
Contact us. We are at your disposal for a personalized advice.
