Non-fungible tokens (NFTs) and the blockchain

Culture, Media and Sport Committee Closed Inquiry
Opened: 3 Nov 2022 Closed: 5 Feb 2024 Parliament page
The DCMS Committee will hold an inquiry into the operation, risks, and benefits of Non-Fungible Tokens (NFTs) and the wider blockchain. MPs are expected to consider whether NFT investors, especially vulnerable speculators, are put at risk by the market. The inquiry may also look into the wider benefits that NFTs … Read more
4 Recommendations
1 Report
1 Oral session
1 Letter
1 Event
Activity timeline 4 events
12 Jan
2024
Report published
11 Oct
2023
Report published
16 May
2023
Correspondence
18 Apr
2023
Oral evidence
Oral evidence sessions 1 session
18 Apr 2023
View on parliament.uk
Angus Scott · Artclear Ltd Emily Gould · Institute of Art and Law Joey D’Urso · The Athletic UK Kieran Maguire · University of Liverpool Reema Selhi · Design and Artists Copyright Society
Recommendations & Conclusions
4 results
1 Recommendation
Fourteenth Report - NFTs and the B…
Introduce a code of conduct for online marketplaces protecting creators from infringing material.
Intellectual property laws and copyright protection are central to enabling artists to create, innovate and make a living from their work. Emerging technologies that undermine these protections have a profound impact on individual artists and the UK’s world-leading creative industries … Read more
Department for Culture, Media and Sport
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2 Recommendation
Fourteenth Report - NFTs and the B…
Publish analysis of Article 17 implementation and equivalent international copyright approaches by year-end.
We recommend that the Government publishes its analysis of the implementation of Article 17 of the European Union Directive on Copyright in the Digital Single Market, and equivalent approaches undertaken by countries outside the EU, by the end of the … Read more
Department for Culture, Media and Sport
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3 Recommendation
Fourteenth Report - NFTs and the B…
Exclude fan tokens from all measurements of fan engagement in professional sports regulation.
The recent plateaus in professional sports leagues’ revenues and the zero-risk nature of crypto revenue for clubs has incentivised partnerships between professional sport and crypto companies. However, the unique relationship between clubs and fans means that fan speculation on sport-based … Read more
Department for Culture, Media and Sport
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4 Recommendation
Fourteenth Report - NFTs and the B…
Mandate the Ministerial taskforce to explicitly review misleading and fraudulent NFT and cryptoasset advertising.
We welcome the Government’s recently articulated intention to introduce statutory regulation for online advertising, in line with our conclusions and recommendations from our “Influencer culture” inquiry last year. We recommend that the Government respond to the evidence we have gathered … Read more
Department for Culture, Media and Sport
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Correspondence 1 letter
16 May 2023 To committee Letter from Emily Gould, Assistant Director, Institute of Art and Law, relating to the oral evidence session on 18 April 2023, dated 21 April 2023
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