Key takeaways:
- The non-fungible token (NFT) collection includes works from Leonardo Da Vinci, Van Gogh and other world’s most renowned artists
- The auction of The State Hermitage Museum’s NFT collection of five paintings will commence on August 31 at 20:00 (UTC +8)
- Starting bids start at 10,000 BUSD
The State Hermitage Museum is the largest art museum in the world with over 3 million items in its collection spanning from the age of Antiquity to the modern Russian era. As its latest endeavor, the museum located in Saint Petersburg has started collaborating with cryptocurrency exchange Binance for an exclusive non-fungible token (NFT) auction of five masterpieces, including works of Van Gogh and Leonardo Da Vinci.
The State Hermitage Museum NFTs
A lucky buyer of artwork in the NFT form will receive an ultra-high resolution digital copy of the original painting, along with the signature and a video of the museum’s General Director Mikhail Piotrovsky. Obviously, the original artwork will remain in the custody of the Hermitage along with a second NFT copy.
The art museum curators had this to say about the upcoming NFT sale:
“Each digital copy is personally signed by Mikhail Piotrovsky, General Director of the State Hermitage. In doing so, he not only confirmed the authenticity of a limited series of works, but also created an independent work of art by applying his signature, the date and exact time of signing, thereby giving it absolute uniqueness, perpetuated in the blockchain.”
Which works of art are included in the collection?
The auction on the Binance NFT marketplace includes five paintings from renowned artists of each respective art period. The starting bid for each NFT item starts at 10,000 BUSD.
The set of five NFTs consists of Leonardo Da Vinci’s The Madonna and Child, Monet’s Corner of the Garden at Montgeron, Van Gogh’s Lilac Bush, Giorgione’s Judith and Kandinsky’s Composition VI.
The NFT sale will start on August 31 at 20:00 (UTC +8) and last until September 7 at 20:00 (UTC +8).
NFTs are a hot commodity
The collaboration between a renowned cultural institution such as the Hermitage and cryptocurrency exchange Binance is another clear example that supports the fact that the interest in NFTs keeps growing.
For instance, just two weeks ago we’ve seen a hugely successful NFT sale of Degenerate Apes break records, as the whole NFT collection was sold out in under 8 minutes with the highest priced item reaching 100,001 SOL, worth more than $6 million USD at the time of the sale.
In July we saw Ethereum’s Vitalik Buterin appear in Ashton Kutcher’s living room, to promote Mila Kunis’ Stoner Cats animated NFT series. Additionally, boxing legend Mike Tyson has joined forces with NFT agency 1ofone to bring his NFT collection to life. On the other end of the sports spectrum, reigning chess world champion and the highest-rated player of all time Magnus Carlsen is also among the celebrities that have recently launched their NFT collections.
