NFT hardware news: France has great ambitions for the sector
Published on 10/19/2022 at 1:25 p.m.
While the NFT Factory fair has just opened its doors in Paris, several political figures have had the opportunity to express their ambitions regarding the famous non-fungible tokens. After the Minister of the Economy Bruno Le Maire, it is the turn of the Minister Delegate for the Digital Transition, Jean-Noël Barot, to display the government’s projects concerning NFTs.
Paris becomes NFT HQ for a few days
On Tuesday, October 18, the NFT Factory opened its doors in the capital. A veritable museum of technology, the project aims to popularize the uses of this new technology and introduce it to as many people as possible.
Across 400 m² and three floors, the dedicated space hosts a gallery of 50 NFT works displaying tokens from larger collections like Bored Ape Yahct Club (BYAC) and other Cryptopunks.
Several French players in the NFT industry are also involved in democratizing the uses around these digital certificates recorded in the blockchain.
Located in the 4th arrondissement, opposite the Center Pompidou, the show will be open to the general public free of charge from October 22. However, the NFT Factory already opened its doors to public figures and the press last Tuesday.
The government offers support to companies in the NFT sector
On the occasion of the NFT Factory, Jean-Noël Barrot, the Minister Delegate for Digital, took the opportunity to communicate his aspirations regarding non-fungible tokens.
“France wants to take the turn of Web3, which will profoundly change the Internet and its uses. “Explains the Minister Delegate for Digital.
This statement finds meaning when we take stock of the 128 speakers of the NFT Factory. Indeed, with the rise in value following the rise of cryptos over the past two years, many of these French companies have quickly become real behemoths, like:
Ledger (physical cryptocurrency wallets) The Sandbox (the metaverse boosted with NFT and cryptos) Sorare (the NFT collectible football card game)
In a logic of accompaniment, the government wishes to open up to its new tech giants in order to promote their development on the territory – an opportunity to take advantage of the advantages of so-called web3 technologies (cryptos and NFT), with the aim to become a “European or even global hub” for NFTs.
To do this, the French State could make significant resources available to these young companies:
“Supporting this movement is the responsibility of the public authorities… with the support of public money. explains Jean-Noël Barot during the launch of the NFT Factory.
It is important to remember that this type of financing is common for emerging industries. With this type of initiative, it is clear that France does not want to miss the shift to web3 as it surely did for web2.
With the ambition of a European metaverse and a bill (MiCA), France is already positioning itself on these new technologies. But our country is not the only one to take the step. Japan, China or the United States, and a plethora of other countries have the same objective.
