ABSTRACT: This article aims at presenting the strengths and weaknesses of the Romanian legislation towards non-fungible tokens (NFTs). We start by recognizing that there is no active legislation that deals with cryptocurrency, NFTs or any other digital asset using a digital ledger of transactions (DLT). The starting point is the analysis of the legal characteristics of an NFT through the classical qualification and distinction made for goods by the Romanian Civil code. Further, we raise some issues regarding establishing a clear tax regime and the correlation between NFTs and intellectual property rights, and finally conclude that when it comes to qualifying crypto-assets, we need to adopt a ‘substance over form' approach, in order to avoid regulatory unpredictability. KEYWORDS: Non-fungible tokens, NFT, cryptocurrency, DLT, blockchain