Hangzhou Internet Court determined that NFT belongs to the network virtual property, the contract involved is protected by law

BlockBeats news: On December 5, Hangzhou Internet Court recently heard A case of dispute over information network sales contract caused by NFT digital collection transaction. The plaintiff surnamed Wang complained that he snapped up a "blind box of NFT digital collection" issued by A company through the purchase channel publicized in the announcement. Pay 999 yuan after you fill in your mobile phone number and personal information. However, A company has not delivered the goods, and forced a refund to Wang 10 days later. Wang Mou thinks that A company's action infringes its legitimate rights and interests, so appeal to the court, ask A company to perform the contract, if not perform, then compensate its loss 99,999 yuan. The defendant company A argued that in order to prevent some users from buying digital collections abnormally by using the plug-in software, and to help users better understand the rules of buying, the platform specially issued a buying notice before the sale of goods, with notes. After hearing, the court held that the transaction object of the case was NFT digital collection, so it needed to confirm the legal attribute of NFT digital collection first. Finally, the court held that NFT digital collection has the object characteristics of property rights such as value, scarcity, disposable and tradability, and also has the unique attributes of network virtual property such as network virtuality and technology. The contract involved does not violate Chinese laws and regulations, nor does it violate China's realistic policies and regulatory guidance to prevent economic and financial risks. It should be protected by law. Therefore, Wang's lawsuit request is rejected.