Benoit Couty describes himself as a bit of an artist. He likes creating things, pushing boundaries, and exploring innovation.
This corporate lawyer started his crypto journey in 2016 with Bitcoin. He noticed straight away the importance crypto regulation will have on the success of this market, and started lobbying for crypto-friendly regulation in France, along with some other early adopters organized in a non-profit.
In 2017 he started working with the French government and parliament to create a framework for crypto regulation that triggers taxation only at the time of conversion into fiat. Anything that happens in crypto stays in crypto, until you turn it into state currency. Then, a 30% flat tax applies.
In 2018, Benoit saw the potential of metaverses and purchased his first NFT: a piece of land in crypto voxels. Having artists in his family, he right away noticed how the crypto voxels community was made of artists creating virtual galleries.
He soon after started collecting digital art, and in December 2018 the doors of the MoCA (Museum of Crypto Art) opened on the metaverse, where people can admire his stunning collection of digital art. Word on the street is that he also intends to start throwing events at one of his crypto voxels locations, and that live music could be involved.
He says the hurdles to mass adoption are that people have to buy crypto and create a crypto wallet, some are also scared by things they have heard around this space.
One of the reasons behind the physical exhibition of Benoit’s collection in Paris, where for 3 days we could admire the art, meet some of the most influential artists in digital fine art, and listen to talks around the subject of NFTs, was to show the public what this community is all about.
A community of artists, who are pioneering a new form of art and exploring the boundaries of creativity.
He says that it’s a shame that French banks are reluctant to embrace crypto start-ups, a lot of whom still have to go abroad to be able to create a bank account and operate smoothly.
In France, the legal qualification of an NFT also isn’t clear. Unlike in the U.S. or U.K., where iconic auction houses such as Christie’s or Sotherby’s auction NFTs as art, as of now in France the law states that NFTs are crypto assets, not works of art, slowing the adoption pace of the art market.
Some forward-thinking art galleries such as Goldshteyn-Saatort or IHAM NFT are selling NFTs, and innovative auction houses such as Fauve Paris are also planning on selling digital art, and accepting payments in crypto, but the bulk of the traditional art market remains fearful.
To sum it up, the fine digital art community is tight knit, burgeoning and strong, and it has a home in Paris, despite the uncertain legal framework and the slow pace of adoption in the mainstream art world.
Written by Eli Strzelecka 10 Jan. 2022 (Twitter: e_strzelecka)
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