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The Chamber of Digital Commerce on Monday announced that is making an entry in the Hermès linked case. It mentioned that the agency filed an amicus brief supporting Hermès and termed it as a crucial case for the blockchain industry. This major development comes in when the NFT is looking to revive after a huge drop in its trading volume. Chamber of Digital Commerce on a mission 
According to the Chamber of Digital Commerce, its amicus brief isn’t just about luxury bags but it is about ensuring consumer trust in the Metavers and <a href="https://news.todayq.com/nfts-bull-run-resumes-trading-vol-hits-42-8-mln/" rel="noopener noreferrer nofollow">NFT markets</a>. The agency mentioned that Trademarks are the foundation of consumer confidence.
It added that the market and other players are making the transition to digital goods. This is why it becomes imperative that these markers of authenticity and quality are protected.
The NFT market is still dealing with a lower trading volume as the craze for these digital arts faded away by the end of the year 2022. There were several attempts made to revive the NFT sales market but it didn’t turn out to be good for it.
The Chamber reported that in the brief filed, it had argued for the application of traditional trademark tests to NFTs and digital goods. However, it added that the Rogers test falls short in a world where art and commerce merge in the code of digital assets.
The global crypto market is on a mega leap and it seems like NFTs and other products are missing the train. Bitcoin (BTC), the biggest crypto went to breach the $49k price level for a while. However, BTC led surge is helping the crypto market to recover.
Bitcoin is trading at an average price of $48,767, at the press time. However, the crypto market cap is getting closer to touching the $2 trillion mark. A bid of Metaverse 
The agency stated that the economic potential of the Metaverse is immense. Meanwhile, in order to unlock it fully, we need clear rules that protect both creators and consumers. It added that the CDC is waiting for the court’s decision.
According to reports A Manhattan federal judge granted Hermes’ request. The firm asked the court to permanently block artist Mason Rothschild’s sales of “MetaBirkin” NFTs. The verdict came in following a jury’s verdict. It mentioned that they violated the French luxury house’s trademark rights in its famed Birkin handbags.
Rothschild had countered that the works were an absurdist statement on luxury goods and were protected by the 1st Amendment.
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Chamber of Digital Commerce jumps into Hermès NFTs case

Todayq News

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