Binance NFT marketplace joined forces with State Hermitage Museum to generate Non-fungible Tokens of world-known art masterpieces. Together they will release a limited edition NFT collection. It consists of artworks by Vincent Van Gogh, Leonardo da Vinci and many more.
The cryptocurrency exchange Binance announced that it would partner up with one of the largest Russian museums – the State Hermitage Museum to issue NFTs of respected work of arts.
The Museum will sell digital copies of “Madonna Litta” by Leonardo da Vinci, “Judith” by Giorgione “Lilac Bush” by Vincent Van Gogh, “Composition VI” by Wassily Kandinsky and “Corner of the Garden at Montgeron” by Claude Monet. Binance will launch the auction at the end of August 2021.
Each Artwork will Consist of Two NFT Copies
- The first will be stored in the Saint-Petersburg Museum
- The second will be sold as auction the Binance NFT marketplace.
The metadata of NFTs includes Hermitage director Mikhail Piotrovskys signature, time of signing and authenticity certification of Hermitage.
The project’s main aim is to highlight “a new level of accessibility to the Hermitage collection” and emphasise “the democratic nature of the museum”. The token also serves to highlight “the importance of digitalization as a new stage in the world of collecting artworks.”
“New Technologies, in particular blockchain, have opened a new chapter in the development of the art market, led by the ownership and the guarantee of this ownership.. This is an important stage in the development of the relationship between person and money, person and thing,” added Piotrovsky.
The Museum has consulted with Russian law firm LFCS to issue the tokens in compliance with Russian regulations.
In her turn, Helen Hai – Head of Binance NFT- commented on the mutual partnership: “Recognition of blockchain technology and NFTs by one of the largest museums in the world is another step towards global digitalization. We highly appreciate the opportunity to cooperate with The State Hermitage; together we are making history.”
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All proceeds from the sale will go to St.Petersburg based The State Hermitage Museum. According to the announcement, any user of the platform can participate in the auction. Binance NFT marketplace will employ the same account network as Binance.com. New customers will need to register with the exchange first.
