AI Law Blog

On the heels of recent legal setbacks and challenges for NFT collections offered by Dapper Labs and DraftKings, the New York Attorney General (NYAG) filed suit in New York state court against the parent companies of cryptocurrency trading platform, KuCoin.

Valuation is a key element in bankruptcies. Generally, a higher valuation of a bankrupt firm means larger creditor recoveries, and a higher valuation of pre-petition collateral means a smaller “adequate protection” package for prepetition secured lenders.

On March 9, 2023, a putative class action was filed against DraftKings Inc. for alleged violations of federal securities laws in the US District Court for the District of Massachusetts.

On February 22, 2023, the United States District Court for the Southern District of New York, in a 64-page opinion, denied a motion to dismiss filed by Dapper Labs, Inc., the developer behind the NBA Top Shot NFT platform, which is hosted on its private blockchain, Flow.

Artificial intelligence (AI) and machine learning technologies have gained tremendous popularity in part because of their superior ability to predict trends and find patterns in large volumes of data.

Courts across the United States are grappling with the application of traditional legal principles to “Web3” technologies and tools, such as blockchain, NFTs, and decentralized autonomous organizations (DAOs).

A New York City jury just returned a verdict in favor of Hermès in a historic dispute between the luxury fashion house and digital artist Mason Rothschild over Hermès’ alleged trademark rights relating to Hermès’ famous Birkin handbag.

With the start of the new year, the ArentFox Schiff Metaverse Industry team reviews 10 of the most pressing legal issues for companies in 2023. 

A dispute between luxury fashion brand Hermès and digital artist Mason Rothschild over Hermès’ alleged trademark rights relating to the Hermès’ Birkin handbag is making waves as a New York federal judge has denied Rothschild’s motion to dismiss and cross-motions for summary judgment.

The Metaverse is a minefield for intellectual property (IP) owners. Many of the threats to IP will be familiar — such as unauthorized use of trademarks, copying of content, and misuse of name/image/likeness.

Four days after FTX, once the world’s third-largest crypto exchange, filed for voluntary Chapter 11 bankruptcy, former FTX investors filed a class action against 11 athletes and celebrities who promoted FTX in advertisements and on social media.

What will happen in the environmental and energy space in 2023? The last year saw transformative changes in the environmental and energy space in the form of historic spending through the federal Inflation Reduction Act, a major court decision involving hot-button topics.

The crypto winter is starting to look more like a crypto ice age. In addition to hundreds of billions of dollars in lost market value, the crypto industry has seen major industry players seek protection in bankruptcy court.

The proliferation of blockchain, cryptocurrency, and decentralized finance (DeFi) applications in recent years has been accompanied by a surge in patent filings worldwide by blockchain tech developers. And, despite some early reluctance of national patent offices to recognize the patentability.

In this Fashion Counsel video, Anthony Lupo and Dan Jasnow break down what e-commerce will look like as the metaverse continues to evolve.

Algorithmic tools, including machine learning and other artificial intelligence technologies, are becoming more common in the health care sector for predicting health outcomes and influencing clinicians’ decision making.

The Metaverse presents a variety of possibilities: from technology that enables digital content to be laid over the real world to application of real-world characteristics to a purely online environment.

The US Securities and Exchange Commission (SEC) has filed an enforcement action against crypto influencer Ian Balina in the Western District of Texas alleging that he promoted unregistered securities in connection with the Initial Coin Offering (ICO) of Sparkster, Ltd.’s Sparkster tokens (SPRK).

As the founder of iGroup and iGrow, Anastasios Economou weighs in on the future of crypto, NFTs, and the impact of the Metaverse on companies.

Crypto-asset transactions are rapidly growing in popularity. However, a surge of cybersecurity breaches and hacker attacks on cryptocurrency exchanges and cryptocurrency wallet service providers has caused billions of dollars in crypto-asset losses to its owners.

The Biden Administration, after ordering a series of reports on the risks and potential benefits of cryptocurrency and digital assets in its March 9, 2022, Executive Order (EO), has now published the “Comprehensive Framework for Responsible Development of Digital Assets,” (Framework).

In a new report issued September 8, the US Office of Science and Technology Policy (OSTP) outlines the environmental and energy impacts of cryptocurrencies and digital assets and calls for the development of federal and state regulations to mitigate those impacts going forward. 

The use of cryptocurrencies for online purchases has been steadily gaining popularity. However, using crypto to pay for goods in stores has been slow due to the lack of infrastructure that can support crypto transactions.

The Metaverse is widely regarded as the next frontier in digital commerce, with organizations spending millions of dollars securing a presence by buying digital real estate and investing in platforms to be market leaders.

Although the emergence of virtual “real” estate in the metaverse presents a unique opportunity for the commercial real estate industry, there are risks associated with virtual real property.