Van Gogh, Leonardo Da Vinci, Claude Monet, and Giorgine’s world-renowned artworks will be tokenized for an auction facilitated by the Binance NFT platform.

Binance Marketplace to Auction Famous Paintings of Renowned Artists

Binance’s NFT marketplace has announced a collaboration with the Hermitage Museum in Saint Petersburg to create tokenized collectibles depicting the works of renowned artists such as Leonardo da Vinci and Vincent van Gogh.

Binance announced on July 27 that it will collaborate with the museum to create and distribute nonfungible tokens by the end of August. The auction will be accessible to all Binance users.

Madonna Litta (Leonardo da Vinci), Judith (Giorgione), Lilac Bush (Vincent van Gogh), Composition VI (Wassily Kandinsky), and Corner of the Garden at Montgeron are among the works in the NFT collection. The Hermitage hopes to provide exposure and accessibility by tokenizing some of the world’s most profound artworks, while also emphasizing the museum’s democratic and outward approach. The Hermitage emphasized the current importance of digitization.

The museum also announced that each artwork will have two NFT copies. The first will be kept in the Hermitage, while the second will be auctioned off. All proceeds from the sale will be transferred to The State Hermitage Museum.

Per the blog post, tokenizing these masterpieces is set to revolutionize access to the museum’s collections.

Mikhail Piotrovsky, the General Director of the Hermitage, said that the museum plans to use blockchain technology, and the opportunities it provides, in further experiments aimed at improving ownership and making luxury art more accessible.

“This is an important stage in the development of the relationship between person and money, person and thing.” he noted.

According to the blog post, the project provides “a new level of accessibility to the Hermitage’s collection” while emphasizing “the democratic nature of the museum.” The tokens also serve to highlight “the importance of digitalization as a new stage in the world of collecting artworks.”

Piotrovsky stated that The Hermitage intends to use NFTs and other digital technologies more in the future. He said:

“New technologies, in particular blockchain, have opened a new chapter in the development of the art market, led by the ownership and the guarantee of this ownership.”

The project, according to Helen Hai, the head of Binance NFT, highlights the value of blockchain technology and NFTs as the world moves toward digitalization.

“Recognition of blockchain technology and NFTs by 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 are making history.”

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New Digitalization Moves

Binance’s collaboration with the State Hermitage Museum is looking forward to incorporating new elements of digitization and has been identified as a project that reflects the museum’s democratic perspective. The museum also intends to set an example for the rest of the world to see the revolutionary ripples caused by the blockchain industry, particularly in the field of artwork and cultural heritage.

Both parties have confirmed the collaboration, which has been described as a revolutionary approach to infusing blockchain technology with cultural history. According to Piotrovsky, the director of the State Hermitage Museum, artwork all over the world is seeking change and influence through NFTs, and the museum is thrilled to be a part of such growing change and alteration.

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