Nearing the end of testimony in the Hermès-Mason Rothschild trial, a few executives from the French luxury house took the stand Friday and three experts for each side clashed about MetaBirkins.
, and collectibles to celebrate loyalty. In October 2021, the company created a digital replica of a Birkin bag as a prototype that was shared internally, but was never released publicly. He also spoke of an artist-designed NFT featuring a virtual talking horse that the company has developed.
Scott Kominers, a Harvard Business School professor who is currently on leave, outlined a study he conducted that suggested that Rothschild’s MetaBirkins were more along the lines of the NFT digital brand market than the-only NFT market, since they also offered loyalty incentives, community-building and future purchase opportunities that are more akin to what major companies are doing.
After Oppenheim noted music and tickets are among the other market subcategories beyond art-only and digital brands, Kominer said it was his opinion that MetaBirkins were trading more consistently like digital brands. To highlight the possible fallout, she estimated the millions of New York Post readers, social media followers and unique monthly visitors. During the cross-examination, Jonathan Harris of Harris St. Laurent & Wechsler reiterated that a correction had been made and that she could not know how many people read the initial story. Vittadini responded that she believed that figure was proprietary to The New York Post.
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