Insights on AI, Metaverse & Blockchain

Sal Patel will speak at the Global IP ConfEx Collaborative Roundtable Discussion on May 24, 2023.

On May 5, 2023, New York Attorney General Letitia James announced a landmark bill — the Crypto Regulation, Protection, Transparency, and Oversight (CRPTO) Act — that, if passed, would dramatically tighten regulation on digital assets issuers, brokers, advisors, and marketplaces operating in New York

Nothing in your life will be more impactful than the AI revolution.

Chairman Anthony V. Lupo was featured in Vogue Business on the use of generative artificial intelligence (AI) in the fashion industry.

On April 23, 2023, the US Supreme Court denied a petition for certiorari filed by Stephen Thaler, following the US Court of Appeals for the Federal Circuit’s finding that Thaler’s artificial intelligence system — DABUS – could not be considered an “inventor” under the Patent Act.

Partners Michelle Cooke and Elizabeth Cohen were quoted on the potential impact of generative artificial intelligence (AI) on traditional legal training methods for junior lawyers.

On January 26, 2023, the US Patent and Trademark Office (USPTO) conducted a public roundtable, during which various attorneys and industry experts discussed their thoughts on the intersection of patent law with non-fungible tokens (NFTs).

ArentFox Schiff is pleased to announce that firm has been named the Top Legal Firm for Metaverse Businesses in the 1st Annual American Metaverse Awards.

New crypto legislation is skiing down Utah’s silicon slopes. On March 13, 2023, the Utah Decentralized Autonomous Organizations Act was signed into law, taking effect on January 1, 2024.

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).

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.