State Hermitage Museum Tapped Binance NFT to Auction Tokenized Art
The State Hermitage Museum, 257 years old historic museum joined hands with Binance NFT, to arrange an auction of the super unique artworks. The auction would be held at the end of August 2021.
The State Hermitage Museum is one of the oldest and most prestigious museums in the world. It chooses Binance NFT as the platform it would go for the creation and auction of its first batch of digital artworks (commonly known as NFT).
The newly formed strategic partnership will allow Museum to present its exclusive digital copies from its art collection for the auction. The famous digital tokens art collection includes the work of famous artists Madonna Litta (Leonardo da Vinci), Judith (Giorgione), Lilac Bush (Vincent van Gogh), and many more. The work is printed on the NFT tokens.
This auction will be unique as compared to any other auction. The auction will include digital tokens as a pair. One token will be owned by the highest bidder and another token will be added to Museum’s art gallery. Each digital copy of the NFT coins will exclusively be signed by Mikhail Piotrovsky, the General Director of the Hermitage Museum.
This will further enhance the royal touch of the coins. The project will further expand the Museum’s social reach. Society will become more aware of the museum’s rich and super unique collections. On the other hand, it is also a step forward to introduce a democratic system into the management of the museum. This auction is a step forward towards the realization that how important blockchain technology can be in this digital age.
Experts said that emerging digital technologies, specifically blockchain has provided the art market with a new platform where the digital form of art can reach millions of admirers. Society has come forward to an extent where the art world and the crypto world can integrate together for the social welfare of the people. As a result of the auction, The State Hermitage Museum will be able to earn staggering profits. Overall, it’s a win-win situation for both parties.
However, the American NBA club, Chicago Bulls also announced to launch of its own NFT digital tokens. This is another major boost for NFT coins. The club in its recent statement announced that its NFT tokens will have its iconic six basketball world championship rings printed on the coins. The NFT powered coins will be available for the public to purchase from 26h of July. Despite the fact that Binance an NFT crypto exchange is experiencing intense regulatory pressure, but still developing business and social ties with some of the renowned entities.