Dolce & Gabbana and UNXD are facing a class-action lawsuit from an unhappy customer who claims that delayed delivery of nonfungible token (NFT) products resulted in a 97% loss in value. The customer, identified as Luke Brown, purchased “DGFamily NFTs” from Dolce & Gabbana for $6,000. These NFTs combine digital and physical assets within the brand’s ecosystem. However, the NFTs were delivered over a week late, causing their value to plummet by $5,800. Additionally, the accompanying “outfits” for the NFTs, intended for display in the metaverse, were delayed by 11 days. Brown has filed the lawsuit on behalf of all customers who bought the NFTs, claiming that Dolce & Gabbana and UNXD failed to fulfill their promises. The delivery delays were reportedly caused by Dolce & Gabbana’s failure to obtain approval for the assets from the UNXD NFT platform. The exact number of affected customers is unknown. This case highlights the challenges faced by companies as they navigate the transition from physical to digital assets. The Dolce & Gabbana NFTs were created on the Ethereum blockchain for the “D&G Metaverse.” The outcome of the lawsuit may be influenced by the fact that Dolce & Gabbana NFTs have previously sold for millions of dollars on the Ethereum blockchain. Dolce & Gabbana has not yet responded to requests for comment.
Dolce & Gabbana sued in a class-action lawsuit following allegations of delayed NFT delivery.