Article content
A lawsuit has been filed against Dolce & Gabbana USA Inc. By a customer who said NFTs he spent $6,000 on that came with clothes to wear in the Metaverse lost 97 percent of their value because the Italian luxury fashion house misdelivered them.
The company sold non-fungible tokens that were promoted as “a menu of digital, physical and experiential benefits” that could be bought and sold on the cryptocurrency blockchain network Ethereum, according to the complaint. Dolce & Gabbana allegedly told consumers that purchasing DGFamily NFTs would give them access to various digital rewards, physical products, and exclusive events.
Article content
But delivery of the NFTs was late, along with special benefits customers were promised, according to the complaint filed Thursday in Manhattan federal court. Digital apparel that showed up 20 days behind schedule “can only be used in the Metaverse platform with virtually no users,” according to the complaint.
Even after the digital fashions are released, token holders are still physically unable to use them for another 11 days because Dolce & Gabbana did not obtain approval from the Metaverse platform beforehand, according to the complaint.
“Their standard operating procedure was to promise products they failed to deliver, before abandoning the project and community they promised to support,” the attorneys wrote in the complaint.
Luke Brown, who filed the lawsuit, says he lost $5,800 on NFTs he purchased. Brown brought the case on behalf of a proposed class of people who purchased digital assets from the NFT project.
Editorially recommended
-
Jack Dorsey's first tweet is on the NFT market
-
What is the metaverse? Everything you want to know
The complaint also names NFT marketplace UNXD as a defendant. Dolce & Gabbana and UNXD did not immediately respond outside normal business hours to requests for comment.
The case is Brown v. Dolce & Gabbana USA Inc., 24-cv-03807, U.S. District Court, Southern District of New York.
Share this article in your social network