For the 13th edition "Around a coffee", we have chosen the theme of NFTart, luxury and sport. With a specialist, we decipher each month an important news of the art and luxury market in all simplicity.
First of all it is difficult to start talking about "NFT (Non Fungible Tokens)" without putting the definition on a new vocabulary. For those who have not yet "fallen down the white rabbit hole" as John Karp and Remy Peretz, co-authors of the first book on the birth of the crypto-art movement, say, I invite you to visit the NFT France site.
When you start studying a new artistic movement like NFTart, you are quickly overwhelmed by all the fields that are involved. For my part, I find it exciting to live in real time the technical advances. Finally the NFT has upset the economy of the art market. Then the companies of the luxury sector followed this wave of success. The AS Monaco soccer team is not far behind with its player cards.
We invited Monegasque business leaders linked to the world of art, sports and luxury to join us on Wednesday, May 18, 2022. Each one had a complementary vision to the others. In my opinion, all of them will need to collaborate together in a spirit of awakening and monitoring the web 3.
Intellectual property and the value of intangible assets are two fundamental notions. Through the example of the case of the NFT bags called "Bayby Birkin" or "MetaBirkins", our guest's legal insight opens the way to future developments in intellectual property law.
Indeed, new notions are emerging with virtual worlds. Whether or not they are related to our knowledge of the real world, the legal framework will have to evolve at the international level. The NFTart is linked to a "smart contract" whose content must be ensured.
Nastatsa Tournière reminds that "both for the author and the buyer, it appears therefore essential to foresee a contract the scope of the transfer of the copyright associated to the tokenized works" .
In conclusion, we are an intermediary between the collector who needs advice on how to invest and the artist who wants to be part of this new movement. The buyer and the creator will work in collaboration with a communication agency, a 3D design studio, developers or a law firm.
To follow our next workshop on the art market news in web 3, send us an email at c.agu@rivierafineart.mc.
