Insights on AI, Metaverse & Blockchain

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).

Partner Michelle Cooke was quoted on the first-of-its-kind decision addressing trademark rights in the Metaverse. A New York City jury ruled that an artist violated fashion house Hermès’ Birkin trademark by selling his MetaBirkins NFTs.

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. 

Partner Michelle Cooke, co-leader of the firm’s Media & Entertainment Industry Team, was quoted on the first-of-its-kind trademark suit from luxury design house Hermès against digital artist Mason Rothschild and his NFT, METABIRKINS.

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.

ArentFox Schiff LLP, the first major law firm to open an office in the Metaverse, as reported by The American Lawyer, has launched a first-of-its-kind IP Enforcement Task Force to tackle legal and technical challenges associated with the enforcement of intellectual property rights in the Metaverse.

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.

ArentFox Schiff is pleased to announce the election of 13 new partners, effective January 1, 2023.

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.

Nonprofits & Associations Industry Group Co-Leader Sean Glynn and Associate Dan Jasnow will present about metaverse considerations for the nonprofit sector at the 2022 Greater Washington Society of CPAs (GWSCPA) Nonprofit Symposium on November 17.

ArentFox Schiff Chairman Anthony V. Lupo was featured in a Q&A about the firm’s Metaverse office opening.

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.

ArentFox Schiff Firmwide Co-Managing Partner Joseph Krasovec was quoted on the official opening of the firm’s office in the Metaverse, making it the first major US law office in the digital world.

ArentFox Schiff is pleased to announce that its office in the Metaverse is now open for business, becoming the first major US law firm to build and launch an office in this new virtual world.

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.

Imagine having the capability to watch a Major League Baseball game through the eyes of the batter, stand on the sidelines next to your favorite player during the Super Bowl or watch each play of a game from different viewpoints in your own home.