Impact of NFT Marketplaces on the Reputation and Value of GI-Linked Agricultural Products

ABSTRACT
Geographical indications (GIs) turn the reputation of a place into commercial value, and non-fungible tokens (NFTs) promise tamper-resistant proof of origin together with new venues for trading that value. This paper asks whether NFT marketplaces actually strengthen the reputation and market value of GI-linked agricultural products, or whether they expose those products to new risks. Drawing on recent consumer research, legal instruments and documented deployments covering Darjeeling tea, Basmati rice, Jamaica Blue Mountain coffee, Parmigiano Reggiano and tokenised fine wine, the paper argues that the benefits are real but tightly conditional. Tokenisation adds measurable value when three conditions hold together: the provenance data behind the token are of registry grade; control over minting remains with GI institutions rather than third parties; and the product category rewards scarcity, ageing or collectability. Where any of these conditions fails, an NFT risks chaining a place-based reputation built over generations to a volatile speculative market. For everyday GI staples, QR-code traceability delivers most of the trust benefit at far lower cost. The paper closes with practical recommendations for producer collectives, policymakers and marketplace operators, paying particular attention to India, whose expanding GI register makes it an important test case.