非同质化通证的金融属性及司法认定可能

Research on Financial Characteristics and Judicial Precedents of Non-fungible Tokens

非同质化通证(NFT)作为区块链技术的深化应用,不仅通过技术保障了用户之间的信任效益和数据权利,同时亦构建了区别于传统金融资产的价值体系。以NFT为代表的加密资产在全球市场的业务开展与交易数据不断扩增,全球数字经济与金融治理格局也处在重塑阶段,但域内外对于NFT属性并未作出一致的认定。通过识别NFT与传统金融资产在定价机制、交易模式、风险性等方面的区别,从全球范围内的司法裁判中考察其属性认定在加密资产与金融化之间转换的可能性,指出对于NFT属性的认定需从资产特性、平台模式、持有者要素以及区别于传统金融资产案件认定规则的司法建议等方面加以考虑。

As the deepening application of blockchain technology,NFT(non-fungible token)not only guarantees the trust benefit and data rights between users through technology,but also builds a value system different from traditional financial assets.The business development and transaction data of crypto assets represented by NFT in the global market continue to expand,and the global digital economy and financial governance pattern is also in the process of reshaping.However,the attributes of NFT have not been unanimously recognized within and outside the domain.By identifying the differences between NFT and traditional financial assets in pricing mechanism,transaction mode,risk and other aspects,and examining the possibility of the conversion of attribute identification between crypto assets and financialization from the global judicial judgment,it is pointed out that the identification of NFT attributes should be considered from the aspects of asset characteristics,platform mode,holder elements,and judicial suggestions that are different from identification rules for traditional financial assets case.