The MIA market in Rome is hosting an event dedicated to the relationship between NFT and audiovisual

– Speakers discussed the opportunities, challenges and legal issues related to the exploitation of this new technology

This article is available in English.

On Friday, January 13, the Nuovo Cinema Barberini in Rome hosted an event organized by MIA Market and the Ministry of Business and Made in Italy entitled “NFT and Audiovisual. Opportunities and risks on the legal front: protection of rights and intellectual property .”

The day started with a welcome speech from Gaia Tridentdirector of MIA, followed by institutional greetings from Francesco Rutellichairman of ANICA; Giancarlo Leone, President of APA; and Francesco Soro, Director General for Electronic Communications, Broadcasting and Postal Services in the Ministry of Business and Made in Italy. During their speeches, Soro, Leone and Rutelli emphasized the urgency of discussing NFT technology both in terms of its potential (especially as a tool for financing and rights exploitation) and the challenges to be faced and complications, especially at the legal level.

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The first part of the event, entitled “NFT and audiovisual”, was introduced by Donatella Proto, Director of the Ministry of Business and Made in Italy. The director highlighted the need to “raise awareness of these new technologies and collaborate with academia” and to “become familiar with [the] terminologies related to new technologies, such as the metaverse, to fully understand the risks and benefits.” Donatella Proto then introduced the two speakers, namely Samuel Fraternalidirector of the Digital Content Observatory at Politecnico in Milan, and Valeria Portalehead of the Innovative Payments Observatory and Blockchain at Politecnico in Milan.

During his speech, Fraternali explained how competition has increased, fragmenting the offer and orienting it more and more towards the ad-based model, i.e. based on ad sales. He said that new technologies such as the NFTs, the metaverse and artificial intelligence make it possible to increase content production and protect digital property, while creating environments for new types of enjoyment.

Portale reiterated the growing scale of the phenomenon, which should be contextualized in a broader technological transformation process that includes blockchain technology and its applications, the cryptocurrency market and the evolution of the metaverse. Speaking of NFTs, he reported that by 2022 alone as much as $28 billion was ‘transacted’ by 8 million people and explained how several companies around the world are already trying to tap into their potential.

He specifically mentioned the example of Disney. The US giant has developed NFTs in partnership with VeVe that guarantee a Disney+ subscription as a way to build customer loyalty.

The second part of the event, titled “Copyright Enforcement of Digital and Virtual Products,” was introduced by Alberto GambinoPresident of the Italian Academy of the Internet Code.

During his speech, Gambino focused on the differences between NFTs as a technology and their legal status. Specifically, the former can only give “an appearance of priority to copyright” as it will have the same value to a judge as it does on the web. The central question therefore remains “how many NFTs must be spread in the market,” so that a given entity can create a limited edition.

The introduction was followed by a discussion with Francesco De Rugeriisby Andrea Rizzi & Partners; Raffaele Giardafrom Studio Baker McKenzie; Luca Pardo, by Ontier Italia; and Chantal Bomprezzifrom Studio Legale GSPB. Fabiano Talianico-founder and CEO of Acta Fintech, moderated the debate and also took questions from the audience in attendance.

The full masterclass is available here.

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