Government of France to support NFT industry via public funds

SNEAK PEEK

  • Jean-Noel Barrot has shared interest in supporting the NFT industry.
  • The support will be offered via France 2030, an investment program for the French state to put capital into technology, aviation, energy transition and automotive industry.
  • France is among the most innovative countries to accept and support digital assets firms.

Jean-Noel Barrot, Minister Delegate for the Digital Transition, while inaugurating a Parisian gallery, NFT factory, has announced that the French government is prepared to back NFTs development in France via investment of public money. 

France has everything from a luxury industry to culture and video games required to transform into a European as well as worldwide NFTs platform. Barrot explained that they need to move with the movement via support of the public’s money. Though he didn’t share the amount and conditions of the support.

He also emphasized on the need to create a regulatory framework for objects and NFTs that are yet to be identified, especially in matters of legal certainty.

He spoke at the NFT Factory, a place in the center of Paris that’s dedicated to digital objects. Training sessions and exhibitions might be hosted here. 

President of the NFT Factory, John Karp, said that they are at the starting point of a revolution. Ten years from now, NFTs will be an important part of everyone’s life. 

2% of French individuals have invested in NFTs, according to a study by KPMG, a consulting firm.