NFTs were discussed at the colloquium and at the Assembly

Calendar Chance, NFTs were doubly in the spotlight, Tuesday 1uh March. Those Non-fungible tokensnon-fungible tokens, i.e. these digital objects, the authenticity and traceability of which are confirmed by blockchain technology without a central control authority, were the subject of a symposium organized jointly by the Council of Sales, the governing body of auctions in France, and the Academy of Fine Arts, entitled “The Evolution of the NFT ( R) in the art world, one year after Beeple” at the Institut de France in Paris. And on the same morning, a law was promulgated allowing the sale of NFTs during public trading. Official newspaper.

Read also: By guaranteeing the authenticity and ownership of NFTs, the “blockchain” paves the way for a new art market.

So far, French law has not allowed auction houses to organize auctions. “intangible movable property” although auctions are possible on NFT platforms and French galleries can already sell NFTs. This concession to auction houses, long overdue, has put France in a precarious position while this type of sale is tied up all over the world, from London to New York, via Taiwan or Hong Kong.

“Holy shit! “ : this is how a year ago, in March 2021, the American Beeple reacted, amazed by the sale of one of its NFTs by auction house Christie’s

“Holy shit! “ : Here’s how a year ago, in March 2021, the American Beeple, whose real name is Mike Winklemann, hitherto known only to the world of digital art, reacted, amazed by the sale of one of his NFTs by auction house Christie’s. Priced at $100 (€90), it sold for $69.3 million (€62.4 million), the third highest auction price ever achieved by a living artist, behind Jeff Koons and David Hockney. A moment filmed at the time from the Beeple’s living room and video of which was shown during a symposium at the Institut de France consecrated the NFT phenomenon. This has already happened during the first imprisonment, when the holders of cryptocurrencies found in this palette of virtual objects a material to acquire and collect, in particular crypto-art, digital works of art connected by their links, their aesthetics or their work with Internet culture.

Cross examination

Evolution or revolution, these intangible works have just made a sensational entry into the auction field. In anticipation of the legislator’s decision, the Board of Sales launched a report to analyze the implications of overseeing the sale of works in the NFT. The symposium was a continuation of this. “We understand that NFTs will revolutionize many things in the world of markets in general. responded Henri Paul, President of the Sales Council. And you have to be receptive to changes in the world, otherwise what’s the point of being a regulator? We were in favor of opening auction houses for NFTs, but now that this is effective, we still need to create a regulatory framework, we need tools. »

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