• Binance presents the NFT collection of the El Mitash Museum

  • A total of 5 NFTs are expected to be available for trading in this auction, with a starting bid of 10,000 BUSD each.

    In the latest example of the endless list of other sectors of human activity moving into the cryptocurrency space, one of the world’s largest and leading museums, the National Hermitage Museum, is launching a premium NFT auction series on Binance. This major event will take place at the Binance NFT Marketplace for a week from August 31 to September 7.

    According to a statement released by the Binance team, the auction event features NFT reproductions of the museum’s artistic masterpieces, including works by Leonardo da Vinci, Vincent van Gogh, Claude Monet and others.

    A total of five NFTs are expected to be available for trade in the auction, with a starting bid of 10,000 BUSD each.

    Binance’s statement about its NFT initiative with the museum reads in part, “The series will be named “Your Token is Preserved at the Hermitage” and it will feature limited edition NFTs with digital copies of the world’s masterpieces from the Hermitage’s main exhibition.”

    The series includes digital copies of artists such as Leonardo da Vinci, whose work “Madonna and Child” will become NFT, and Vincent van Gogh’s “Lilac Bush”, which will become NFT. other works of art involved include Giorgione’s “Judith”, Wassily Kandinsky’s “Composition VI” and Claude Monet’s “A Corner of the Garden of Montgeron”.

    The NFT video will be airdropped to the winner’s Binance wallet within 14 days of the end of the auction. Beyond that, Binance says it “reserves the right to immediately disqualify any participant who shows signs of fraudulent behavior.” And, it “reserves the right to cancel or modify any campaign or campaign rules at its sole discretion.”

    Recall that in a July announcement earlier this year, the museum announced that its initiative with non-friable tokens (NFTs) would help the museum provide better access to the Hermitage collection” and demonstrate “the importance of digitization in art collections.”

    In the announcement, the museum explained that two copies of each NFT will be issued, one to be held by the Hermitage itself and the other to be given to the buyer.

    The metadata of the NFT will include the signature of Mikhail Piotrovsky, the director of the Hermitage Museum, the time of signing and a certificate signed at the Hermitage Museum.

    In a statement at the time, Piotrovsky said the NFT makes luxury items more accessible but also exclusive.

    He added that the Hermitage will continue to explore what digitization can do for the museum.” He said, “On the basis of these new technologies, we will conduct new experiments.

    What's your reaction?