Tech Policy Unit Horizon Scanner - July 2021
13 July 2021
It's hard to put a price on the Internet. Sure, you could start by valuing all the tech giants, but it's less clear where you end: almost the entire modern economy depends upon the Internet's proper functioning. So when the Internet source code sold for only $5.4 million last month at a Sotheby's auction, was it the bargain of the century?
Of course, Sotheby's didn't sell off any infrastructure underpinning the functioning of the Internet. They sold a non-fungible token (NFT) representing the World Wide Web source code, alongside an assortment of other digital items created by Tim Berners-Lee. What sale and ownership means in the context of NFTs can take a little unpacking, just as it depends upon the jurisdiction you're dealing with. Our global piece on NFTs below will help you get to the answers.