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Sending NFTs Late Until Their Value Drops 97%, Dolce & Gabbana Sued

Liputan6.com, Jakarta Italian luxury fashion company Dolce & Gabbana is facing lawsuits from its customers for late deliveries non-fungible NFT tokens. Causing the price to drop by 97% due to delays and unfulfilled promises.

The lawsuit, filed in Manhattan federal court on May 16, states delays in shipping the NFTs have resulted in significant reductions in value and losses. According to court documents, NFTs were initially marketed as digital and physical benefits earned by customers, which could be traded on the Ethereum blockchain.

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Launch The Crypto TimesSaturday (18/5/2024), the person who filed the lawsuit, Luke Brown, said the digital asset was delivered 20 days late, and could only be used on a metaverse platform with very few users.

Additionally, it will take an additional 11 days before the item can be used, as the necessary approvals from the metaverse platform are not obtained beforehand.

Brown, who claims losses of USD 5,800, seeks to represent the group of consumers who purchased this NFT initiative.

The complaint accuses Dolce & Gabbana of consistently not keeping its promises to the public. The lawsuit highlights ongoing concerns regarding accountability and implementation of digital asset projects in the fashion industry.

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Sending NFTs Late Until Their Value Drops 97%, Dolce & Gabbana Sued

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