Binance and Hermitage Museum Partner to Auction NFTs

Russia’s Hermitage Museum, which houses some of the most extensive collection of the world’s priceless art pieces, made a press release to start auctioning some of its precious collections on the Binance NFT platform. The St. Petersburg museum will begin the most-talked-about auction from tomorrow to the 7th of September.

State Hermitage Museum’s collaboration with the crypto world, preferably Nonfungible Tokens will, “provide better availability of the Hermitage’s collection” and demonstrate “the importance of the digitalization in art collecting,” according to the announcement made in July.

Works of famous artists like Leonardo da Vinci, Vincent Van Gogh, Claude Monet, and the rest will be virtually copied in NFT forms. Each rare piece will suction at a starting bid of 10,000 BUSD.

As parts of the rewards attached with each purchase, State Hermitage Museum will gift the five lucky winners an exclusive video showing the Museum’s General Director Mikhail Piotrovsy signing off each piece.

The five limited virtual copies of the masterpieces known as “Your token is kept in the Hermitage” will be in the form of Nonfungible Tokens. The list of NFT copies to be auctioned are “The Madonna and Child”, a masterpiece by Leonardo da Vinci himself. “Judith” by Giorgione, “Lilac Bush” an oil painting by Vincent Van Gogh, “Composition VI” by Wassily Kandisky, and “Corner of the Garden of Montgeron” by Claude Monet.

The Museum said that it would make double NFT copies of each piece. The Museum will give a copy to the bid winners, and the other will be kept at the Museum. Video rewards will be sent to the purchaser’s Binance wallet 14 days after the auction finishes. Each purchase will be perused thoroughly, and any sign of fraudulent activity will attract a renunciation of the purchase. Binance also holds power to cancel, amend, and tilt any action or rules.

In an interview, General Director Mikhail Piotrovsy affirmed that “NFT makes the luxury things more available, yet, at the same time, exclusive,” He also pledged that the Museum would continue to explore new opportunities in the crypto sphere. “On these new technologies, we will base our new experiments,”

Meanwhile, Binance’s NFT boss, Helen Hai, has assured crypto enthusiasts to expect more collaboration and similar projects from the art industry. In her words, she confirmed that “Soon, we’ll see more projects developing this union of the blockchaintech and art.”

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