The French government wants to support the NFT industry with public funds

Over the past two years, the NFT industry has grown exponentially. Today, alongside cryptos, it is one of the strong links in the digital asset market. According to a study by the consulting firm KPMG, around 2% of French people have already invested in NFTs. An opportunity on which the government intends to position itself.

A European and global NFT platform?

The French state wants to support the NFT industry. That’s what has let it be known Tuesday, Jean-Noël Barrot, the Minister Delegate in charge of the Digital Transition. He made this clear during the inauguration of the NFT Factory, a Parisian gallery exclusively built for virtual objects. The leader indicated that this support will be provided through France 2030. An investment program through which the French State will inject capital into energy transition, technology, automotive and aeronautics.

France’s commitment to NFTs.

“The French government is ready to support the development of NFTs in France, by investing public money in it. With global players in culture, video games and the luxury industry, France has everything it needs to become a European and global NFT platform. We must accompany this movement with the support of public money, within the framework of France 2030”said the official.

For now, no details have leaked on the exact amount that the government will spend on this project. However, the minister reiterated the importance of building a regulatory framework upstream to oversee this growing field. This, he continues, will ensure legal certainty for NFT actors.

France is one of the most advanced European countries in terms of adopting and supporting companies with digital assets. This week, authorities issued an operating license to SG Forge, a company that provides crypto services. But to achieve its ambition of becoming a digital hub, Paris does not intend to stop there. The country wants to become a hub for NFTs. The establishment of this center will be financed by public funds.

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