Hermitage and Binance NFT Tokenise Artworks From Museum Collection

The State Hermitage Museum and the Binance NFT marketplace announced the release of tokenised artworks from the museum’s collection. ForkLog said in a press release.

The non-fungible tokens (NFTs) will appear on the marketplace at the end of August 2021. The limited-edition series will include digital copies of paintings: “Madonna Litta” by Leonardo da Vinci, “Judith” by Giorgione, “A Sprig of Lilacs” by Vincent van Gogh, “Composition VI” by Wassily Kandinsky, “A Corner of the Garden in Montgeron” by Claude Monet.

The central idea of the project is to broaden access to the Hermitage’s collections and to emphasise the democratic nature of the museum, and, moreover, to emphasise the importance of digitalisation as a new stage in the world of art collecting.

Each work will have two NFT copies: one will be stored in the Hermitage, and the second will be put up for auction on the marketplace. All proceeds from the sale will go to the museum.

The tokenised works will be signed by Hermitage director Mikhail Piotrovsky, attesting to their authenticity.

“NFT is a path that brings democratisation, makes luxury more accessible, yet at the same time exclusive,” he clarified.

Helen Hai, head of the marketplace, described the Hermitage’s recognition of blockchain technology and non-fungible tokens as “yet another step towards global digitalisation.”

Binance NFT, launched on 24 June, began negotiations with the museum regarding the sale of tokenised artworks on 2 July.

Earlier it was announced that the Hermitage would host an NFT art exhibition before the end of 2021.

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