NFT Business in Estonia

Despite numerous regulatory amendments that have taken place in Estonia which have affected blockchain and cryptocurrency businesses, Estonia continues to be one of the best places to establish a crypto business.

While many business models that deal with virtual assets need a license to operate in Estonia, in most cases, non-fungible token (NFT) companies are not required to obtain a license. Also, the inclination towards innovation, online business management capabilities, clear legal system and the supportive ecosystem has led to the increased trend of global entrepreneurs establishing a NFT business in Estonia.

What is an NFT?

NFT is and abbreviation of a non-fungible token which is based on blockchain technology and shares some programming similarities with some cryptocurrencies as all transaction data is recorded. However, NFTs are cryptographic tokens that usually represent real-world objects like art, music, in-game items, and videos and have been around since 2014. While NFTs have been around since 2014, they only started to gain attention from a broader audience when artists saw it to sell their digital artwork which can also protect their rights.

NFT assets are usually one of a kind and have a unique identifying code that acts as proof of ownership. This means that they cannot be replaced by another token without changing the value or data of the object and allows the buyer to own the original item.

Why Should You Establish Your NFT Business in Estonia

Start-ups, businesses, and entrepreneurs from all over the world which are looking to launch a company or project that involves NFTs should consider establishing their business in Estonia. As mentioned above, and described in further detail below, Estonia offers a great ecosystem where new ideas can be tested.

Recent statistics regarding Estonia as a good business jurisdiction:

Regulatory Environment That Supports Innovation

In Estonia, issuing NFT tokens is not regulated by law. This means that there are no restrictions provided by the local legislation for the creation and sale of an NFT. In business operation terms, it takes away numerous regulatory and technical requirements w