Non-Fungible Plant Variety (NFPV): A Proposal for an Innovative Way of Controlling Seed Trade of Protected Plant Varieties

Authors : Miguel Rapela; Lucas Lehtinen

Volume/Issue : Volume 8 - 2023, Issue 1 - January

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This work proposes the developing of a blockchain smart contract and the formal creation of Non-Fungible Plant Variety (NFPV) by tokenizing such a real-world asset. The NFPV enables complete transparency of the seed market by establishing an unprecedented relationship between the breeder of the plant variety and the acquirer of the seed of such plant variety. Each digital token of an NFPV is backed by a seed unit of the same real-world variety produced that year by the breeder. A digital token of an NFPV cannot exist without the backing of a seed unit of the same variety, nor vice versa. Purchasers of the NFPV will have the opportunity to bid in the ICO (initial coin offering) for the purpose of determining the valuation price of the NFPV and its copy in case of seed save and use, the base price of which will be the real-world production value of the seed containing the variety. The transaction will be made through the standard for non-fungible tokens (NFT) in the Ethereum ERC-721 network using the Solidity language, the transaction being credited with the network's cryptocurrency Ether (ETH) and the MetaMask virtual wallet or digital purse. The work described here is the creation and commercialization of the seed of an NFPV, a concept that is perfectly in line with the obligations of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPs) and the system of intellectual protection of the Union internationale pour la Protection des Obtentions Végétales (UPOV).

Keywords : Plant Varieties, Plant Breeders´ Rights, Intellectual Property, Sui Generis System, Non Fungible Token, NFT.


Paper Submission Last Date
31 - March - 2024

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