Judge Dismisses NFT Lawsuit Against Dolce & Gabbana USA

A federal judge has dismissed a lawsuit filed by a cryptocurrency investment firm against Italian fashion house Dolce & Gabbana USA, alleging the company failed to deliver a $6 NFT. Drake Tree Capital investment fund filed the suit in March, claiming the company received payment for the non-fungible token (NFT) but never transferred the digital asset. The investment fund contends that after remitting the $6, they neither received the purchased NFT nor were they refunded their money. The judge dismissed the case for lack of personal jurisdiction, finding the case lacked sufficient connection to the state of New York. Dolce & Gabbana argues that Drake Tree Capital is retaliating because the fund failed to pay an additional $62,000 in fees regarding the NFT. A lawyer for Drake Tree Capital stated that it is reviewing the decision and considering its options. The case is Drake Tree Capital v. Dolce & Gabbana USA Inc., 24-cv-02283, in the U.S. District Court for the Southern District of New York.