Axie Infinity Launches New Web3 Game Amid SEC NFT Probe Pause LVMH Faces NFT Patent Lawsuit From Watch Skins

Axie Infinity, a prominent blockchain gaming project, has unveiled a new Web3 game titled Atia’s Legacy. This massively multiplayer online (MMO) game is set within the Axie universe and emphasizes true asset ownership for its players. The development comes at a time when the US Securities and Exchange Commission (SEC) has ceased investigations into major NFT projects, and a company owned by former US President Donald Trump has registered trademarks for an NFT marketplace. Sky Mavis, the developer behind Axie Infinity, highlighted that these updates could further unlock the potential of tokens, as stated by co-founder Jeffrey Zirlin.

In a separate development, luxury fashion conglomerate LVMH is facing legal action over allegations of infringing on patented technology related to non-fungible tokens (NFTs) for watch faces. The lawsuit, filed in Texas, accuses LVMH of using NFT technology that is protected by patents held by Watch Skins, a smartwatch face design firm. Watch Skins claims that TAG Heuer, an LVMH-owned watch brand, unlawfully used its patented NFT display technology in a smartwatch. The company alleges that TAG Heuer encouraged users to infringe on the patents by providing instructions for using the NFT display features. Watch Skins is seeking a trial, compensation for lost royalties and profit, and a court order to prevent LVMH from further using the patented NFT technology.

This legal action against LVMH underscores the growing importance of intellectual property in the NFT space. As more entities enter the market, the need for clear guidelines and protections for patented technologies becomes increasingly crucial. The lawsuit serves as a reminder that the NFT market is not immune to legal disputes and that companies must be vigilant in protecting their intellectual property.

The launch of Axie Infinity's new Web3 game is a significant development in the blockchain gaming industry. It demonstrates the company's commitment to innovation and its ability to adapt to the changing landscape of the gaming world. The new game is expected to attract a wide range of players, from casual gamers to those deeply involved in the blockchain community. This move by Axie Infinity could also pave the way for other companies to explore the potential of Web3 technology in gaming.

The legal challenges faced by LVMH and the innovative strides made by Axie Infinity reflect the dynamic nature of the NFT and blockchain gaming industries. As these technologies continue to evolve, it is likely that we will see more legal disputes and innovative developments in the coming years. Companies and individuals involved in these industries must stay informed and adaptable to navigate the complexities and opportunities that lie ahead.