LexisNexis Pacific announces the launch and auction of an NFT on ‘Non-Fungible Tokens’, the first Guidance Note from Practical Guidance. All sales of the NFT will go to Médecins San Frontières Australia

Sydney 17 July 2023 – LexisNexis^® Legal & Professional, a leading global provider of information and analytics, today announced the launch of the first ever practical guidance NFT, all in the name of charity.

While generative AI has taken the world by storm and there is both excitement and concern on the effects that it will have on the legal industry, the digitisation of our world in all aspects continues apace. A key part of the digitisation revolution is the ability to assign ownership to digital assets, and through that ownership allow for innovative new ways for humans to transact. Non-Fungible Tokens (NFTs) registered on a blockchain represent new forms of ownership. Traditional companies find it complex to understand how to interact with crypto services in a legally compliant and practical way. This includes how to potentially own and trade NFTs, sometimes ones that may represent their brand in new ways. Lawyers are often asked to help navigate the legal, regulatory and practical complexity.

To meet this need the LexisNexis Practical Guidance Australia team has created a guidance note on NFTs, and then turned that guidance note into an NFT. This allowed the team to walk through the complexity of transacting as a large multinational on the blockchain with all the concomitant learnings.

Managing Director, Asia & Pacific, Greg Dickason said, “It’s essential for legal organisations to either hold or understand how to hold a crypto wallet and be savvy enough to trade in crypto should they be asked to advise on what to do. NFTs are a great way to learn about the technology and the processes it takes to set up, advise, trade and protect your digital IP. The NFT we are auctioning off is rare and the rarity of an NFT impacts its value. This is the first NFT of a Practical Guidance Note and it’s the only one we intend on minting. So that’s extremely rare.”

Part of our Practical Guidance ethos is to learn by doing. Educators have long hailed learning from practice and experience is far greater than having strong theoretical knowledge. As such we thought it would be very appropriate if we, as a large publicly listed global organisation went through the motions of minting an asset and then offering it up for a charity auction. The process has by no means been fast or simple. It has taken months to get approvals from legal, compliance, treasury and security. Ironically, the tech side of things was the easiest part. We have mapped our journey in a series of blogs that aim to educate and inform the sort of issues and challenges we faced. We believe that what we have traversed is very similar to what other organisations will face.

To encourage the industry to join the ‘in club’ we’ve minted the first ever Guidance Note NFT from LexisNexis Practical Guidance that we are auctioning off for charity, with 100% of the profits* going to Médecins Sans Frontières Australia (MSF Australia). You can find the NFT here: CLICK HERE

To take part in our charity NFT auction you can bid for the NFT here, or if you’re starting out on your crypto journey, find out what steps you need to take in our How To series: CLICK HERE

*all associated costs with minting the NFT, etc are covered by LexisNexis, with a genuine 100% profits going to the nominated charity.

About LexisNexis Legal & Professional

LexisNexisLegal & Professional^®provides legal, regulatory, and business information and analytics that help customers increase their productivity, improve decision-making, achieve better outcomes, and advance the rule of law around the world. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis^® and Nexis^® services. LexisNexis Legal & Professional, which serves customers in more than 150 countries with 11,300 employees worldwide, is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers.

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Media Contact
Monique Dorigo
Head of Marketing
LexisNexis | Legal & Professional
+61 481 058 541 Mobile
monique.dorigo@lexisnexis.com.au