Medieval art will be tokenized as NFT via Binance

NFT marketplace will tokenize art by Leonardo da Vinci
  • NFT medieval art will soon be displayed at the St. Petersburg State Hermitage Museum’s forthcoming NFTs art exhibition
  • To tokenize the art pieces, the museum has partnered with Binance NFT marketplace
  • Leonardo da Vinci, Vincent van Gogh, Claude Monet, and Giorgione’s paintings will be tokenized via Binance
  • Two NFTs will be produced of each art piece, among which one will be auctioned, and one will be stored in the museum
  • The director of the museum will sign and date each of the cryptocurrencies

NFT or Non-Fungible Tokens are tokenizing the real-world assets. The craze for such cryptocurrency has been high since last year. Tweets and arts are being tokenized and auctioned for millions of dollars. Recently, it was announced that next month’s NFT marketplace would tokenize medieval art by some famous medieval artists. Such artists include Leonardo da Vinci, Vincent van Gogh, Claude Monet, and Giorgione via Binance and the Russian museum. The tokenization of these NFTs will follow via a partnership between Binance and Russian Museum.

Binance partnered Russian museum to create NFT

Binance, one of the leading cryptocurrency exchanges operating globally, has partnered with St. Petersburg State Hermitage Museum. Following the partnership, Binance’s NFT marketplace has announced that it is creating Non-Fungible Tokens of the works of great medieval painters. In addition, Tuesday’s announcement by Binance mentioned that all users of Binance might attend an auction.

Two NFTs of each artwork

- Advertisement -

The partnership announcement credits the concept to the Russian Museum, with its NFT replica of medieval arts. Such arts include Da Vinci’s Madonna Litta, van Gogh’ Lilac Bush, Claude Monet’s Corner of the Garden at Montgeron, and Giorgione’s Judith.

Notably, the announcement revealed that two NFT replicas of these art pieces would be made. One of the NFTs will be auctioned on Binance’s marketplace. In contrast, the other piece will be stored in the museum. Moreover, each of the crypto coins will be signed and dated by Michail Piotrovsky, the director of the Hermitage.

It is also noteworthy that the museum will get 100% of the revenues from the auction. Indeed, the auction event is set to take place this fall.

New degree of accessibility to the Hermitage

The NFT tokenization project will offer a new degree of accessibility to the Russian Museum’s collection. The factor will be witnessed while stressing the democratic spirit of the organization.

The NFTs aim to emphasize the significance of digitalization as a new stage in the world of artworks. According to Michail, the museum believes that blockchain has created a new chapter in the evolution of the art market. Hence, they intend to use blockchain products more in the future.

One step closer to the global digitalization

Binance NFT CEO Helen Hai stated that the underlying technology of Bitcoin and NFT coins had been recognized by one of the world’s most excellent museums. Hence, the recognition shows that the industry is one step closer to global digitalization. Indeed, together with the State Hermitage Museum, Binance NFTs marketplace is creating history.

Download our App for getting faster updates at your fingertips.

Ahtesham Anishttp://www.thecoinrepublic.com
Ahtesham Anis is a Computer Science undergrad student currently based out of India. Coming from the business background and his keen interest in Cryptocurrency and Blockchain technology is what Ahtesham brings to the table. He is always an eager learner when it comes to exploring the new technologies and topics in the crypto world.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange