Binance NFT Marketplace Plans to Tokenize Da Vinci and Van Gogh Paintings

Binance NFT Marketplace Plans to Tokenize Da Vinci and Van Gogh Paintings
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Binance NFT marketplace plans to offer more interesting digital arts by tokenizing some of the most famous paintings in history. According to an announcement, the company is entering a partnership with the State Hermitage Museum to tokenize the Leonardo da Vinci paintings among arts from other famous names. It can be a crucial step towards tokenizing art and growing the NFT industry.

Expanding the NFT Marketplace

The NFT industry is moving in positive positions as big names like Binance are entering the market. The company launched its marketplace some weeks ago and planned to expand its activities by partnering with various artists and organizations. The latest partnership is with the State Hermitage Museum focusing on tokenizing the paintings from famous artists like Van Gogh and Leonardo da Vinci. A new collection of NFT offerings created from the museum collection will go live in an auction in the Binance NFT marketplace at the end of August 2021.

The Hermitage museum is one of the biggest ones in the world. The executives have planned to cooperate with the blockchain companies to offer the collections in the new world with innovative standards. The idea to tokenize the paintings came from the museum. According to the announcement, the Hermitage will release a limited edition NFTs. The NFTs are created from digital copies of masterpieces. This collection consists of various masterpieces such as:

  • Madonna Litta (Leonardo da Vinci)
  • Judith (Giorgione)
  • Lilac Bush (Vincent van Gogh)
  • Composition VI (Wassily Kandinsky)
  • Corner of the Garden at Montgeron (Claude Monet). 

NFT marketplace will sell one copy of the NFT in the auction. The other one will be stored in the Hermitage museum. General Director of the Hermitage, Mikhail Borisovich Piotrovsky, 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. This is an important stage in the development of the relationship between person and money, person and thing. NFT — this way creates democracy, makes luxury more accessible, but at the same time exceptional and exclusive. We will expand other opportunities, in particular digital ones, which will introduce the collections and the palace. We will build new experiments based on new technologies”.

One of the most important aspects of the partnership between the Hermitage museum and Binance NFT Marketplace is that cryptocurrencies are banned in Russia, but the Hermitage has been successful in starting this partnership with the help of a legal consulting company named LFCS that created a model for presenting NFTs from art masterpieces.

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