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	<title>Dolce &amp; Gabbana Archives - Coin Engineer</title>
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		<title>Dolce &#038; Gabbana Sued Over Crashed NFT Value</title>
		<link>https://coinengineer.net/blog/dolce-gabbana-sued-over-crashed-nft-value/</link>
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		<dc:creator><![CDATA[Tanju Akbıyık]]></dc:creator>
		<pubDate>Fri, 17 May 2024 19:30:25 +0000</pubDate>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Dolce & Gabbana]]></category>
		<category><![CDATA[Dolce & Gabbana NFT]]></category>
		<category><![CDATA[nft]]></category>
		<guid isPermaLink="false">https://coinengineer.io/?p=20683</guid>

					<description><![CDATA[<p>Dolce &#38; Gabbana USA was sued on Thursday by a client who said that the company&#8217;s botched delivery caused the NFTs they bought to lose 97% of their value. According to a Friday Bloomberg story, the Italian fashion label offered &#8220;a slate of digital, physical, and experiential benefits&#8221; while selling the NFTs on Ethereum. It</p>
<p>The post <a href="https://coinengineer.net/blog/dolce-gabbana-sued-over-crashed-nft-value/">Dolce &amp; Gabbana Sued Over Crashed NFT Value</a> appeared first on <a href="https://coinengineer.net/blog">Coin Engineer</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><strong>Dolce &amp; Gabbana</strong> USA was sued on Thursday by a client who said that the company&#8217;s botched delivery caused the <a href="https://coinengineer.net/blog/trump-claims-credit-for-nft-boom/">NFTs</a> they bought to lose 97% of their value.</p>
<p>According to a Friday <a href="https://www.bloomberg.com/news/articles/2024-05-17/dolce-gabbana-metaverse-fashion-offering-leaves-shopper-fuming">Bloomberg</a> story, the Italian fashion label offered <em>&#8220;a slate of digital, physical, and experiential benefits&#8221;</em> while selling the NFTs on <a href="https://coinengineer.net/blog/ethereum-eth-could-miss-out-on-this-bull-run-according-to-developer/">Ethereum</a>. It purportedly informed customers that obtaining its DGFamily NFTs would grant them access to a variety of digital incentives, tangible goods, and exclusive events.</p>
<p><strong>Dolce &amp; Gabbana</strong> is further accused of not delivering the NFTs and promised benefits on schedule. Arriving twenty days late, the digital clothing <em>&#8220;could be used only on a metaverse platform with barely any users.&#8221;</em></p>
<p>Token holders apparently had to wait an additional 11 days to spend their tokens, even after their delayed delivery. <strong>Dolce &amp; Gabbana</strong> had not, as the complaint claims, previously obtained permission from the metaverse platform.</p>
<p><em>“Their standard operating procedure has been to promise products they fail to deliver before abandoning a project and community they promised to support,”</em> the complaint stated.</p>
<p>Plaintiff Luke Brown says that the NFTs he bought cost him $5,800. On behalf of others who purchased digital assets from this NFT enterprise, Brown said he is suing. He also names UNXD, an NFT marketplace, as a party to the complaint.</p>
<p>The post <a href="https://coinengineer.net/blog/dolce-gabbana-sued-over-crashed-nft-value/">Dolce &amp; Gabbana Sued Over Crashed NFT Value</a> appeared first on <a href="https://coinengineer.net/blog">Coin Engineer</a>.</p>
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