The Minister Delegate for Digital Transition Jean-Noël Barrot said he wants to support the NFT industry with public funds from France 2030, during the inauguration of the NFT Factory in Paris.
The French government is ready to support the development of NFTs in France, by investing public money in them, the Minister Delegate for Digital Transition, Jean-Noël Barrot, announced on Tuesday on the sidelines of the inauguration of a Parisian gallery. these virtual objects.
“With global players in culture, video games and the luxury industry, France has everything it needs to become a European and global platform for NFTs. We must accompany this movement with financial support to the public, within the framework of France 2030 “, he explained, without giving more details of the amount or the terms of this support.
Acronym for “Non-Fungible Token”, NFT is a “non-fungible token”, i.e. non-fungible and therefore unique. Concretely, it is a theoretically unfalsifiable digital certificate of authenticity, registered in a “blockchain” (a chain of blocks), like cryptocurrencies. These items, which invaded the worlds of art and sport for example, hit the headlines, some of which were traded for tens of millions of dollars.
“At the Beginning of a Revolution”
Jean-Noël Barrot also emphasized the need to “establish a regulatory framework for NFTs, things that are still unknown, especially in terms of legal certainty”.
He spoke at the NFT Factory, a new space dedicated to these digital objects in the center of Paris, where exhibitions and training sessions will mainly be held.
“We are at the beginning of a revolution. In 10 years, NFTs will be an important part of our lives,” for his part expected John Karp, president of NFT Factory.
According to a study carried out by the consulting firm KPMG for the Association for the Development of Digital Assets (Adan), about 2% of the French have already invested in NFTs.