The State Hermitage Museum is in talks with the Binance exchange regarding the issuance of NFTs and the sale of tokenized artworks. reports Interfax, citing a statement by Marina Tsyguleva, head of the museum’s Legal Department.
She clarified that all exhibits remain in the museum under the right of imperative management, however the Hermitage can create tokenized works based on what is stored in its collection.
“In other words, this would be a digital reproduction of a painting bearing the director of the Hermitage’s autograph, affixed at a specific minute on a specific day. It could then be used as a ‘souvenir’ or as a collection of works,” Tsyguleva said.
Non-fungible tokens would enable additional funding for the restoration of the museum’s collection. However, this may require clarifications of the law and bringing this type of token under regulatory oversight, the Hermitage representative added.
The NFT issuance is under discussion with cryptocurrency exchange Binance. In a ForkLog report, Binance’s Director for Eastern Europe, Gleb Kostarev, confirmed the information.
“Binance is negotiating with the State Hermitage. We will not disclose details, but we hope this will be a truly unique project in the NFT market,” he said.
On June 24, the exchange launched its own Binance NFT marketplace.
In March, the Hermitage announced plans to hold by the end of 2021 an NFT-art exhibition.
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