“Freedom in the walletThis is how Stefan Berger, Member of the European Parliament, describes the non-fungible token (NFT) that he currently sells on Opensea. NFT represents a pair of shoes”PergoletinThe shoe symbolizes the first step in every development, says Berger, who has invested in efforts to ensure that the next European legislation on cryptocurrency has the support of his colleagues.
A European legislator is auctioning off sandals NFT on Opensea
Stefan Berger, the German Member of the European Parliament tasked with facilitating the progress of the European Crypto Asset Market (MiCA) project, launched a summer initiative to promote crypto, a phenomenon “As revolutionary for the world as the introduction of the stock market in the seventeenth century“.
At the end of July, a member of the conservative EPP group urged his Twitter followers to join an auction at the NFT Opensea market. “My NFT is out nowBerger announced in a blog post about the sale, which ends on Monday, August 15th.For me, NFT is part of the wallet’s digital freedomwrote in a tweet.
Shoes were chosen as the element where every major development begins with the first #a step. For me this NFT is a digital piece #Freedom in the wallet. More info here: https://t.co/yphSsayOCn pic.twitter.com/4B5rqP4ShG
– Stefan Berger (@DrStefanBerger) 30 July 2022
The NFT Bergoletten, who claims to have designed it, depicts a pair of sandals For men, one marked with “#bigo“And the other-“Rope“. The sandals They are the perfect summer accessory and were chosen as an NFT item because every great development starts with the first step, as the seller explains on their website:
What was negotiable yesterday is now a token on the blockchain. I wore yesterday sandals Under your feet, today you carry it in your wallet – in this NFT form.
The European Union is studying the treatment of NFTs under the MiCA regulations
Stefan Berger’s publicity stunt on NFTs came after a big step towards passing the pan-European cryptocurrency regulation. In early July, the main participants in the complex legislative process of the union – Parliament, Council and Commission – reached an agreement to implement MiCA across the entire 27-person bloc.
Stefan Berger played a role in the decision to drop a controversial proposal to ban servicing of coins based on the project’s energy-intensive algorithmic Proof-of-Work mining. These scripts, which would have amounted to an effective ban on cryptocurrencies such as bitcoin, whose mining requires a lot of electrical power, have sparked negative reactions from the crypto space on the continent.
The agreement does not cover NFTs unless they fall under the heading “Current Crypto Asset ClassesOfficials in Brussels said at the time. European institutions must now decide whether separate regulations for NFTs are needed. This type of crypto asset is also called “digital collectiblesIt has various applications, including storing digital records on the blockchain and proving the authenticity and ownership of artworks, for example.
According to a recent statement by Peter Kerstens, European Commission Adviser on Technological Innovation and Cyber Security Policy, European lawmakers “You have a very narrow view of what NFT is.He suggested that many NFTs be treated like other digital currencies.
Speaking at Korea Blockchain Week, Peter Kerstens explained that if a token is issued as a block or chain, even though the source may be called an NFT and each individual token in that chain may be unique, European regulators will not consider it a non-fungible token. This means that the requirements that apply to cryptocurrencies will also apply to NFTs.
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