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Non-fungible tokens have seen tremendous growth in terms of their use cases as these digital art pieces were used for various means of sell-offs. Most prominent example being the use of NFTs for donations to the embattling country of Ukraine. Crypto donations also played a significant role for providing aid to people within the region.
Now a recent announcement clarified the intentions of Ukraine to put the NFTs for use. On October 13, 2022, the Kharkiv Art Museum stated about the availability of their popular Art without Borders NFT collection over platform of Binance NFT marketplace.
The NFT collection has fifteen different art pieces gathered from the collection belonging to the museum. It was also said the capital raised following the sales of art pieces will be allocated to finance the expenses of the museum as well as towards saving Ukraine’s cultural heritage.
Kharkiv Art Museum is the oldest museum in Ukraine where it has a collection of upto 25,000 art pieces created by various artists—from Ukraine and all around the world. Art pieces from artists like Albrecht Dürer, Ivan Aivazovsky, Simon de Vlieger, Georg Jacob Johann and others are to be showcased within the NFT collection.
Binance’s Contribution to Save Ukrainian Cultural Heritage
NFT head at Binance, Lisa He said that during the time of war NFT acted as a potential way for donors who were seeking a secure and sure medium for providing the funds.
She said that NFTs offer peace of mind to the senders along with the security given all the transactions being registered over the blockchain network. All the donations made through NFTs are under consistent watch and neither can they be altered or deleted.
Further she added that blockchain also facilitates transparency for the transactions which allows the donors to know about every detail regarding their funds.
For quite a long time, museums have been utilizing the NFT collectibles as a medium which can be used to digitize the art. For instance, the Royal Museum of Fine Arts Antwerp tokenized an art piece from its collection.
The art we know today in reality is also planned to enter the museums within the digital world through NFTs.
Although, not all the news coming from Ukraine and Kharkiv are this satisfied. The city has been under the attack given the intense fighting going on within the region since the disruption of war between Russia and Ukraine. The consistent attacks on the city puts the art pieces and collectibles within the museum under the high risk. Many have seen the instance of art and historical monuments being destroyed in wars. For instance, in 2003, the National Museum of Iraq in Baghdad was looted.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
