Digital, Culture, Media and Sport Committee to examine NFTs and Blockchain
MPs question experts on the uses of non-fungible tokens (NFTs) and Blockchain technology. This is the first session of the Committee’s inquiry into the operation, risks and benefits of NFTs and the wider blockchain.
Meeting details
In the first panel, MPs explore the uses of NFTs in the creative industries. Questions could focus on their promised benefits and popularity, the role of NFT marketplaces, and blockchain’s application in the traditional art market. Witnesses may also be asked about intellectual property rights and smart contracts, as well as ‘safe harbour’ protections on NFT marketplaces.
In the second panel, MPs hear about the use of NFTs in sport. Questions will likely focus on the prevalence of sport related NFTs, professional sports’ primary motivations for their use and the potential issues that may arise. MPs may also ask about whether this NFT use complies with advertising regulations and the growing prevalence of crypto sponsorship and ads at sporting events.