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In France, a first auction of NFT

Timid beginnings? If the American press has since the beginning of 2021 understood the interest of NFTs, the French press has been more cautious. At most we had noted the initiative of 20 Minutes, which announced last July an upcoming sale of an NFT representing an edition. The choice of the number had been left to the readers, who had voted for “The crazy years 2020”.

The auction took place last night, it was carried by Piasa. The NFT sold for 3,000 euros, after two buyers positioned themselves. It was ultimately an Italian buyer who won the auction. The 20 Minutes teams report that they themselves were not sure of the interest in their NFT:

“Until Tuesday, the suspense was at its height. It was double or quits. Either we managed to sell the NFT, or we became the laughing stock of the crypto-arts world. “

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A sale that reveals French limitations?

Perhaps most notably, 20 Minutes reports that the sale had to be articulated to avoid a significant legal hurdle. In France, it is indeed forbidden to sell an intangible object in a public auction. To counter this, 20 Minutes and Piasa therefore proposed a printing plate, which contains the first pages of the edition, and which was sold at the same time as the NFT.

Beyond these legal limitations, the NFT sector must also tame a French culture that is not particularly open to these new uses, according to the president of Piasa, Frédéric Chambre:

“This is a first in a French market which is cautiously discovering NFTs. Auction houses have a role to play in this learning. NFTs are not a fad, nor really speculative, but there is a need for learning. Potential buyers are no doubt reassured by an auction. “

If the sale does not reach the astronomical prices of NFTs of international newspapers, it is therefore a first step. It remains to be seen whether other French newspapers will follow suit.

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About the author: Marine Debelloir

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Associate Editor on Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that arise from the blockchain and I like to find the most delicious information to share with you.
All articles by Marine Debelloir.

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