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Russia’s Hermitage to Sell Digital Copies of Art Gems as NFTs

The Hermitage, one of many world’s main artwork collections, will public sale digital copies of 5 of its most well-known masterpieces in August on the Binance NFT market, the museum stated in a press launch.

The St. Petersburg, Russia establishment didn’t specify the precise date of the sale of the digital copies of Leonardo da Vinci’s “Madonna Litta,” “Judith” by Giorgione, “Lilac Bush” by Vincent Van Gogh, “Composition VI” by Wassily Kandinsky and “Nook of the Backyard at Montgeron” by Claude Monet.

This initiative with non-fungible tokens (NFTs) will assist the museum “present higher availability of the Hermitage’s assortment” and reveal “the significance of the digitalization in artwork amassing,” the announcement stated. 

Every NFT might be issued in two copies, one held by the Hermitage itself and the opposite going to the client. The metadata of the NFTs will embrace Hermitage director Mikhail Piotrovsky’s signature, the time of the signing, and that it was signed within the Hermitage.

“NFT makes the luxurious issues extra out there, but, on the identical time, unique,” Piotrovsky stated in a press release. including that the Hermitage will maintain exploring what digitalization can do for the museum. “On these new applied sciences we are going to base our new experiments,” he stated. 

The museum has consulted with the Russian regulation agency LFCS to challenge the tokens in compliance with present Russian laws, the announcement learn.

Binance NFT’s head Helen Hai stated within the announcement that the Hermitage’s participation within the nascent NFT market is “priceless” and units an instance for different museums. “Quickly, we’ll see extra initiatives growing this union of the blockchain tech and artwork,” Hai stated.

Source: CoinDesk

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