December 9, 2022
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Binance launches Hermitage Museum NFT collection

The auction is expected to have a total of 5 NFTs available for trading, with each having a starting bid of 10,000 BUSD.

Binance Launches Hermitage Museum NFT Collection, the significant event is set to take place at Binance NFT Marketplace for a week from August 31st to September 7th.

According to a statement released by the Binance team, the NFTs at this auction event were recreated from the museum’s masterpieces, including works by Leonardo da Vinci, Vincent Van Gogh, Claude Monet and more.

The auction must have a total of 5 NFTs available to trade, with each having a starting bid of 10,000 BUSD.

Binance’s statement about its NFT initiative with the museum says in part “the collection would be titled“ Its token is kept at the Hermitage “and would feature limited edition NFTs with digital copies of the world’s masterpieces from the Hermitage main exhibition.”

The series of works includes digital reproductions by artists such as Leonardo Da Vinci, whose work “The Madonna and Child” would be turned into an NFT, while Vincent Van Gogh would turn “Lilac Bush” into an NFT. Other works involved include Giorgione’s Judith, Composition VI Wassily Kandinsky, and Claude Monet’s Corner of the Garden at Montgeron.

The NFT video will be uploaded to the winners’ Binance wallet within 14 days after the auction closes. Apar from this Binance stated that “it reserves the right to immediately disqualify any participants who show signs of fraudulent behavior”. And that “reserves the right to cancel or change any activity or activity rules in our sole discretion”.

Recall that in an announcement made in July this year, the Museum announced that its non-fungible tokens (NFTs) initiative will help the museum provide better availability of the Hermitages collection and demonstrate “the importance of digitization in the art collection”.

The Museum clarifies in the notice that each NFT will be issued in two copies, one in the hands of the Hermitage itself and the other intended for the buyer.

The NFTs metadata will include the signature of Hermitage Director Mikhail Piotrovsky, the time of signature and the certification that was signed in the Hermitage.

In a statement at the time, Piotrovsky said that NFT makes luxury things more affordable, but at the same time, exclusive.

He added that the Hermitage will continue to explore what digitization can do for the museum.

“On these new technologies, we will base our new experiments,” he said.

Source: Coinspeaker

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