Copyright infringement, but make it fashion 👜

Hermès, the French fashion powerhouse, is taking on the digital art industry.

31 Jan

"The best things in life are free. The second best are very expensive."

- Coco Chanel

👋 GM! Rallie here, the newsletter bringing you the latest in crypto and tech so you can secure the bag.

On the menu:

  • 👜 Hermès vs. NFTs

  • 🔐 Who paid SBF's bond?

  • 🗞️ Headlines that hit

  • 🎀 Refresh: The pink tax

  • 💯 Top tweets

Rallie Recap

👜 Copyright infringement, but make it fashion.

  • Hermès, the French fashion powerhouse, is taking on the digital art industry.

  • This week in NYC, a trial is underway between Birkin-maker, Hermès, and digital artist, Mason Rothschild, who created and sold 100 NFTs called MetaBirkins.

  • In the high-fashion world, Birkins are highly coveted handbags that sell for thousands of dollars and are seemingly impossible to get your hands on (we haven't tried).

  • Hermès is suing the artist for copyright infringement alleging that Rothschild misled customers who believe the company is associated with the NFT drop, while also hurting the company's future plans to enter the digital asset arena.

  • Depending how the trial unfolds, it could set a legal precedent for IP in the digital art world, and experts say that both sides have strong arguments.

🤔 Who posted Sam's $250M bond?

  • On Monday, a judge ordered that the names of two unidentified people who co-signed Sam Bankman-Fried's $250M bond, be made public.

  • The NYC judge ruled in favour of four separate petitions after a slew of news outlets filed suit to get the court to release the identities.

  • This followed reports that SBF's mom, brother and some key executives from FTX are not cooperating in the bankruptcy case, with some declining to give requested info and others ignoring lawyers altogether.

  • SBF is currently under court-ordered confinement in his parents’ $4M Cali home. Sounds rough.

Headlines That Hit

Why We Rallie

🏁 Start your engines. F1 wants women back in the cockpit.

  • This month, F1 announced it will be introducing the F1 Academy, a racing series and training program for women.

  • The academy will include 15 cars across 5 teams in a 21-race season, and participants will receive $156K per car from F1. Drivers must contribute the same amount with their own money or match it through sponsorships.

  • F1 says it will also feature an academy race at a Grand Prix in 2023.

  • Not so fun fact: the last woman to start in an F1 race was Lella Lombardi in 1976.

Did we just become F1 fans? Looks like it.

Rallie Refresh: The Pink Tax

Ever wonder why things seem more expensive for women? Well, it's because they are! It's called the pink tax, and it starts at birth. Here's the nitty gritty:

  • The pink tax is a premium placed on certain products that leave women paying more than men for similar personal-care items. Essentially, it's gender-based pricing.

  • So why pink? It's named for the colour that companies use for products targeted at women — things like razors, soap, and shampoo that don't really need to be gendered, but often cost more for women's versions.

  • There is no single explanation for the pink tax, but factors include gender-based pricing strategies, the assumption that women will pay more for certain products, and the historical undervaluation of women's work.

  • The impact is big. Compounded over time, women are paying thousands more to purchase similar products as men, contributing to the widening gender wealth gap.

Trending Tweets

Our fav funnies to get you through the day.

Congrats, you made it to the end!

That's all for today. Stay hungry & we'll catch you next time. ✌️

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DISCLAIMER: This is not financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions.