NFTs, non-fungible digital assets that aren’t interchangeable, pose risks to intellectual property and need closer examination, according to a report for the Ministry of Culture prepared by the Higher Council for Literary and Artistic Property (CSPLA) — one of the first ministries in France that addresses this issue.
According to the authors, Jean Martin, president of the CSPLA mission, with the assistance of Pauline Hoth, master of inquiries in the Council of State, NFTs bring “unpublished problems” concerning intellectual property, right ownership, and how to handle them. They advise abbreviating them in French as “JNF” (for “non-fungible token”).
After a total of 60 organized hearings, the mission, which presented its report to the members of the High Council at the plenary session on 12 July, makes a series of recommendations aimed primarily at informing the public, rights holders and copyright professionals.
The report also invites to encourage experimentation of JNF-related use cases and calls for the development and promotion of national and European best practices among all stakeholders.
FFPB, as the first network of French business of Blockchain professionals, is proud to be participating in structuring the industry and creating a bridge with public entities to improve use of blockchain technology.