Artclear's Written Evidence for the DCMS Committee Inquiry Into NFTs and the Blockchain
In January, Artclear submitted written evidence to the UK Parliament’s DCMS (Digital, Culture, Media and Sport) Committee for their inquiry into the operation, risks, benefits of Non-Fungible Tokens (NFTs) and the wider blockchain that will take place later this year. The inquiry is likely to consider whether more regulation of NFTs and the blockchain is needed, and may also look into the wider benefits that these technologies could provide the UK economy.
Artclear uses blockchain and NFT technology in a tightly defined operational capacity within our business model. We have also observed the NFT bubble that inflated and then deflated while we have been working on setting up our business and building our platform. The insights into the strengths and weaknesses of NFTs that we have gained from this experience form the basis for our evidence.
You can read Artclear’s written evidence and response the DCMS’s questions here: https://committees.parliament.uk/writtenevidence/114655/pdf/