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

– The speakers discussed the potential, challenges and legal issues related to the exploitation of this new technology

This article is available in English.

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

The day began with welcome words from Gay TridentDirector of the MIA, which was followed by the institutional greetings of Francis RutelliANICA President; Gian Carlo Leone, President of the APA; And Francesco Sorò, Director General for Electronic Communications, Radio Broadcasting and Postal Services of the Ministry of Enterprise and Made in Italy. During their speeches, Soro, Leone and Rutelli underlined the urgency of discussing NFT technology both in terms of its potential (in particular as a tool for financing and exploiting rights) and in terms of challenges and complications to be faced, especially at a legal level.

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The first part of the event, entitled “NFT and audiovisuals”, was introduced by Donatella Proto, Director of the Ministry of Enterprise and Made in Italy. The executive highlighted the need to “raise awareness of these new technologies and collaborate with the academic world” and to “become familiar with [the] terminology 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 of the Milan Polytechnic, e Valeria PortalHead of Innovative Payments and Blockchain Observatory at the Politecnico di Milano.

During his speech, Fraternali explained how competition has increased, fragmenting the offer and orienting it increasingly towards the ad-based model, ie based on advertising revenues. You said new technologies such as NFTs, the metaverse and artificial intelligence are making it possible to scale up content production and protect digital property, creating environments for new kinds of entertainment.

Portale reiterated the growing extent of the phenomenon, which must be contextualized in a broader process of technological transformation that includes blockchain technology and its applications, the cryptocurrency market and the development of the metaverse. Speaking of NFTs, he reported that in 2022 alone, 28 billion dollars were “transacted” by 8 million people and explained how various companies around the world are already trying to exploit its potential.

He especially cited the example of Disney. The US giant has developed NFTs in collaboration with VeVe that guarantee a Disney+ subscription as a means of customer loyalty.

The second part of the event, entitled “Enforcement of copyright for digital and virtual products”, was introduced by Albert 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 provide “a semblance of primacy to copyright”, since before a judge it will have the same value it has online. The central question therefore remains “how many NFTs should be in the market”, so that a given entity can create a limited edition.

The introduction was followed by an engaging discussion Francesco De Rugeriisby Andrea Rizzi & Partners; Raphael Giardaof Studio Baker McKenzie; Luca Pardo, by Ontier Italia; And Chantal Bomprezziof the GSPB Law Firm. Fabiano Talianico-founder and CEO of Acta Fintech, moderated the debate, also answering questions from the audience.

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