Luxury giant LVMH is being sued over patented technology for watch NFTs

ChainCatcher news, according to Cointelegraph, a company that sells smartwatch face designs through NFTs has filed a lawsuit against luxury giant LVMH, accusing it of patent infringement.

In a complaint filed on March 10 in a federal court in Texas, Watch Skins Corporation accused LVMH of stealing its "groundbreaking NFT display technology." Watch Skins claims to have developed a unique system that allows users to showcase verified NFT artworks on smartwatches and holds multiple patents related to the technology.

The company states that a smartwatch from LVMH's TAG Heuer brand, as well as products from other brands within the group, illegally utilized NFT display technology based on three patents owned by Watch Skins.

Watch Skins is seeking a jury trial and demands compensation for lost profits and royalties due to the infringement, while also requesting the court to issue an injunction to prevent 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 Consumer Electronics Show (CES) in Las Vegas. At that time, Watch Skins stated that the mobile application provided consumers with the ability to "purchase officially licensed smartwatch faces from their favorite brands."