For the first time in the world, the Nft-version of the bill will be put up for sale in Russia

Digital version of the document recognizing tokens as intellectual property will be presented at St. Petersburg International Economic Forum

The Roscongress Foundation announces that the world’s first NFT version of the bill will be sold at a charity auction on June 16, 2022 at the St. Petersburg International Economic Forum (SPIEF). The auction will be held at the Leningrad House of Trade as part of the “Creating the Future 2050” digital art competition.

At the event will be presented a bill on FTT, which deputies Anton Tkachev and Vladislav Davankov submitted to the State Duma on May 19.

Experts criticize the NFT token bill

The document defines an NFT token as “an Non-fungible token in the form of a unique digital asset (image, video or other digital content or asset) in the form of interchangeable data stored in a distributed registration system (blockchain system).”

“Thus, the law on intellectual property protection will apply to NFT tokens and protect their rights holders,” the explanatory note to the document says.

The need to regulate NFTs in Russia was first stated by Anton Gorelkin, deputy chairman of the State Duma Committee on Information Policy, Information Technology and Communications, in February. He argued that the largest NFT market should be included in the “landing” law in order to operate legally in Russia and protect the rights of Russian NFT owners.

Adam Spencer

Written by Adam Spencer

Author of the section "NFT".

A digital artist who releases his artwork under a pseudonym that is not disclosed on this site. Since childhood is fond of drawing and sculpture. A graduate of the Academy of Fine Arts. Passionate about both the creation of art and its history.

Has not passed him by and modern technology. He makes his works on the computer using a tablet. Master of Photoshop, Illustrator, 3ds Max and other less common specialized programs for designers and artists.

Got interested in NFT back in 2020, even before its popularity peaked. Believes NFT is a great technology that allows little-known artists to show their work to the world.

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