NOTES ON BLOCKCHAIN TECHNOLOGY, NFT’S AND THE DAMAGE INSURANCE CONTRACT: IS IT POSSIBLE TO MAKE AN NFT DAMAGE INSURANCE CONTRACT?

Abstract

The present study is carried out in the research field of Constitutional Law of Economic and Legal Property Relations and aims to analyze the innovations arising from blockchain technology, notably transactions involving NTF's, as well as the possible possibility of contracting damage insurance for such an asset. The following specific objectives were delimited: a) to conceptualize security aspects and their regulation in Brazil; b) explain and address the innovations arising from blockchain technology, notably the creation and use of NFT's; and c) analyze any regulation or obstacle to the securitization of NTF's in Brazil. The question is: is it possible to make a non-fungible token (NFT) damage insurance contract? A qualitative approach methodology is used, having been developed through bibliographical, data and legal research. Analyzing the results obtained, it appears that the mitigation of property damage arising from the risks inherent in social relations can be carried out by contracting insurance for the aforementioned purpose. In addition, although NFT's represent personal assets, as well as there is a risk to be mitigated through the insurance contract, their coverage through securitization entities is still not widely explored in the global scenario, with no records of operation at the national level, although it has room for due activity. It is concluded that there is no specific provision or regulation in force or in process regarding the specific type of insurance for NFT's in Brazil, not verifying, however, any obstacle in the current legislation to the elaboration of an insurance contract for damages of an NFT.