The Hermitage has entered a partnership with Binance. This information appeared on the marketplace’s blog on July 26. Binance is going to issue NFT tokens for paintings. Binance launched the platform in June this year.
There will be a limited collection of paintings: “Composition 6″ by Wassily Kandinsky, “Madonna Litta” by Leonardo da Vinci, “Lilac bush “by Vincent van Gogh, “Corner of the garden in Montgeron” by Claude Monet, etc.
It is very interesting that the paintings will have two digital copies. One the Hermitage is going to leave in the museum, and the second is to be sold at an auction, which will be held at the end of August on the Binance NFT trading platform.
The Director of the State Hermitage Museum Mikhail Piotrovsky personally verified the authenticity of the works and signed each copy.
Collaboration between the Hermitage and Binance can make the museum’s collections more accessible and show that the digitization of works of art is very important in the modern world.
The project is called: “Your token is kept in the Hermitage.”
The State Hermitage has turned to the LFCS consulting company for legal assistance. Together, they were able to develop a model that does not violate Russian cryptocurrency legislation. This will help the Russian market integrate into the international NFT system.
From the Binance press release:
“New technologies, in particular blockchain, have opened a new chapter in the development of the art market, led by the right of ownership and the guarantee of this property. This is an important stage in the development of relations between man and money,” said Mikhail Borisovich Piotrovsky, General Director of the Hermitage. “NFT – it creates democracy, makes luxury more affordable, but at the same time exceptional and exclusive. We will expand other opportunities, in particular digital, which will showcase the collections and the palace. We will build new experiments based on new technologies. “
“Recognition of blockchain and NFT technology as one of the largest museums in the world is another step towards global digitalization. We highly appreciate the opportunity to cooperate with the State Hermitage; together we make history,” said Helen High, CEO of Binance NFT. “The experience that the Hermitage demonstrates to the entire art market is priceless; it opens up many new opportunities for development. I am sure that soon we will see even more projects that will positively affect the development of the unique union of blockchain and art. “
The proceeds from the sale of digital products will go to the museum. In addition, an art exhibition of the Hermitage NFT will take place in the fall, which will also show tokenized paintings.
Registered users of the Binance.com platform can participate in the auction from their account, while new users will need to register.