The suit alleges that delays in delivery caused purchased NFTs to lose 97% of their value.
A disgruntled customer has filed a class action lawsuit against Italian fashion brand Dolce & Gabbana and digital assets platform UNXD after alleged delays in delivering non-fungible token (NFT) products caused the digital assets to lose 97% of their value.
According to a report from Bloomberg, a customer identified as Luke Brown paid $6,000 for “DGFamily NFTs,” a Dolce & Gabbana product combining digital and physical assets as privileges and experiences within the brand’s greater ecosystem.
The NFTs were allegedly delivered over a week late, which caused their value to plummet by $5,800. A set of accompanying “outfits” for the NFTs, which were purportedly meant for display in the metaverse, were further delayed by 11 days after the initial delivery.
