ChainCatcher news, according to Cointelegraph, a company that sells smartwatch face designs through NFTs has filed a lawsuit against luxury giant LVMH, accusing it of patent infringement.In a complaint filed on March 10 in a federal court in Texas, Watch Skins Corporation accused LVMH of stealing its "groundbreaking NFT display technology." Watch Skins claims to have developed a unique system that allows users to showcase verified NFT artworks on smartwatches and holds multiple patents related to the technology.The company states that a smartwatch from LVMH's TAG Heuer brand, as well as products from other brands within the group, illegally utilized NFT display technology based on three patents owned by Watch Skins.Watch Skins is seeking a jury trial and demands compensation for lost profits and royalties due to the infringement, while also requesting the court to issue an injunction to prevent LVMH from further using its patented technology. The company announced the launch of the world's first blockchain NFT watch face marketplace at the 2020 Consumer Electronics Show (CES) in Las Vegas. At that time, Watch Skins stated that the mobile application provided consumers with the ability to "purchase officially licensed smartwatch faces from their favorite brands."

ChainCatcher news, the DeFi Education Fund (DEF) reached an agreement with True Return Systems (TRS) on Monday to purchase a patent for oracle-like technology. This controversial patent is at the center of two lawsuits against MakerDAO and Compound. DEF declined to disclose the settlement amount, citing that the negotiations are of a "confidential" nature.According to DEF, TRS sued MakerDAO and Compound in 2022 for using oracle-like technology, claiming to own "a method and system for separating the storage and processing of computerized ledgers to improve functionality." However, the advocacy organization and the lawyers for both protocols have disputed these allegations, stating that the scope of the patent litigation is overly broad.DEF stated that it plans to make the patent available to the public, meaning that each protocol will have the legal right to use the oracle-like technology mentioned in its intellectual property documents.