Non-Fungible Tokens’ Legal Framework

Non-Fungible Tokens (NFTs) have increasingly fostered growing interest, largely derived from the values gathered in their transactions. It should be noted that, despite the frequent exposure to NFTs these days, a high level of mistrust and lack of knowledge about them remains, precisely due to the lack of legislation or regulation.
However, there are several considerations on the possibility of drawing various legal acts and norms in force nearer to the concept of NFTs, in order to serve as support, albeit theoretical, on this same topic.
Thus, this work analyses the main concepts related to NFTs, seeking, on the one hand, to offer a comparative law approach starting with Portuguese law and several EU pieces of legislation, as well as relevant countries’ points of view, as the UK, France or Germany, on the subject and the ecossystem and, on the other, the insertion of the concept of NFTs in different and wide areas of law, as Intellectual Property, Banking and Finance, Consumer Law, Data Protection or Tax law. Furthermore, this work also focuses largely on the MiCA Regulation, in its final approved version, and its background, to better compare and guide the concept of NFTs through its applicable legal scope.