Counterfeit Louis Vuitton x Yayoi Kusama NFT Collection Revealed and Removed by DailyCoin

• At the beginning of February, Louis Vuitton announced a collection with Yayoi Kusama.
• Several Web 3.0 news outlets shared speculative claims from an unconfirmed NFT collection.
• The unverified NFT collection has been removed due to copyright infringement.

Unconfirmed claims of a Louis Vuitton x Yayoi Kusama The NFT decline was widespread in early February 2023.

After international fashion house Louis Vuitton released a collaborative collection with Japanese contemporary artist Yayoi Kusama, an NFT collection appeared at OpenSea with the same title.

Despite the listed NFTs and the collection’s description appearing somewhat legitimate, the collection was unverified by OpenSea. Nevertheless, many Web 3.0 news outlets distributed the information from the unverified collection, claiming that 10,000 NFTs would be released and Louis Vuitton would allow customers to exchange the digital assets for physical copies.

The unconfirmed Louis Vuitton x Yayoi Kusama The NFT collection has since been removed from OpenSea based on a claim of copyright infringement, according to the notice from OpenSea.

Source: OpenSea

Since the collection is no longer available, it is unclear what the floor price, total volume, best offer and total owner volume were before the collection was removed by OpenSea.

However, soon after the collection appeared in early February, OpenSea registered two NFT owners, revealing that there had been buyers who invested in the collection before the copyright infringement of the NFTs was revealed.

A speck of speculation

Hadrien Huet, head of online brand protection at Louis Vuitton, reportedly debunked the false claims about the NFT collection and its connection with physical products.

Huet apparently stated that Louis Vuitton had acknowledged counterfeit NFT collections on OpenSea, adding that “unintended third parties” were “trying to take advantage” of the rampant speculation.

The incident serves as a reminder to NFT buyers to conduct independent research and verification from primary sources to avoid fraud related to digital assets.

On the other side

• A number of speculative articles about the NFT collection have been corrected, but the implications of the unconfirmed reports remain unclear.
• Web 3.0 personalities have criticized the news industry for deficiencies in ethical journalism before.

Why you should care

Unconfirmed reporting can result in financial implications for the reader, undermine the credibility of the industry and undermine confidence in Web 3.0 development, potentially hindering its implementation.

DailyCoin prioritizes and values ​​journalistic principles in the interest of readers.

Read more about the physical Louis Vuitton x Yayoi Kusama collection:

Louis Vuitton gets Kusama-fied – 10K NFTs celebrate 200 years

Read more about misleading NFT collections about the luxury brand Hermès:

Hermès vs. MetaBirkins verdict announced, Designhuset wins

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