Tokens and NFTs as an Innovative Tool for Developing Creative Industries in the Russian Federation

Structural changes occurring in the economy of creative industries require innovative solutions for successful and efficient development. Nowadays, traditional approaches are becoming less effective, making it necessary to search for new ways of interaction and monetization. Progressive tools such as tokens and non-fungible tokens (NFTs) offer unique opportunities to address these challenges. Tokens and NFTs enable flexible management of intellectual property rights, as well as creative product management. Moreover, with proper legal formalization they can create a transparent system for asset exchange. Through such tools, creative authors can monetize their work, which additionally affects the development of small and medium-sized businesses in the creative industries. To analyze the regulatory and legal aspects, along with the practical application of tokens and NFTs, a comprehensive approach was applied, including case analysis, data aggregation, and visualization. As a result of the study, the actors proposed a classification of tokens and NFTs, which provides a basis for developing legislation covering this type of asset. The developed model of interaction between actors in this market allows for a clear delineation of the rights and responsibilities of each participant. The proposed solutions can contribute to the development of the digital environment in creative industries, making this sector of the economy more competitive and efficient.