NFT Buyer Sues Dolce & Gabbana Over Value Loss

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Dolce & Gabbana NFT Lawsuit: Buyer Sues Over Value Drop
Fashion Brand Sued: NFT Collection Value Plummets
Suit claims company mismanagement caused value erosion

A customer in the Southern District of New York has sued luxury fashion brand Dolce & Gabbana USA Inc., alleging the fashion house mismanaged a collection of NFTs, leading to a significant decline in their value.

The lawsuit, filed by Luke Brown, as reported by Bloomberg, centers on the DGFamily NFTs, which were marketed as offering a combination of digital wearables, physical goods, and exclusive experiences. Mr Brown had paid nearly $6,000 for the DGFamily NFTs that lost 97% of their value.Dolce & Gabbana marketed these NFTs as providing a mix of digital, physical, and experiential benefits.

Mr. Brown’s complaint contends that Dolce & Gabbana failed to deliver on these promises. The lawsuit alleges delays in receiving the NFTs and associated benefits, with the digital wearables only usable on a niche metaverse platform that had limited user engagement.

Additionally, the complaint claims Dolce & Gabbana neglected to secure proper …

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