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Hermitage Museum is about to sell the Monet, Leonardo Paintings as the NFTs

The State Hermitage Museum in St. Petersburg is now minting many masterpieces from its collection as the NFTs. The sale of the NFT version for the works of Vincent Van Gogh, Leonardo da Vinci, Claude Monet will take place at the end of August. It will take place at the Binnacle marketplace.

The museum is located in the Winter Palace of the tsars. It had to work around the strict restriction of Russia on the cryptos to organize their sale. The recent cryptocurrency legislation in the country has placed its limitations on the use of digital assets as monetary currency.

The general director of Hermitage, Mikhail Piotrovsky, said, “an important stage in the development of the relationship between person and money, person and thing,” adding that NFTs “create democracy, make luxury more accessible, but are at the same time exceptional and exclusive.”

The sale includes the NFTs Van Gogh’s Lilac bush, Leonardo’s Madonna Litta, Monet’s Corner of the Garden at Montgeron. It also includes Wassily Kandinsky’s Composition VI.

This initiative has been dubbed as the “Your token is kept in the Hermitage” is part of a push to grow the museum’s digital reach. It intends to “ensure a new level of accessibility to the Hermitage collections and emphasize the democracy of the museum, and emphasize the importance of digitalization as a new stage in the art collection world.”

They will expand their other opportunities, in particular digital ones. It will introduce the collections along with the palace. They will also build new experiments oriented to new technologies.

Piotrovsky’s signature is appearing on the Hermitage NFTs. The museum said that it is making each of the NFT a work of originality. The copies of the NFTs will also be kept. The Hermitage is planning to display the copies during this fall in an exhibition that will center on NFT art.

The Hermitage Museum is not the first-ever world-class museum to make the NFTs for the artworks in its holdings. Also, the Uffizi Galleries in Florence sold an NFT of a painting of Michaelangelo for $170000. They did so to recoup their financial losses due to the pandemic. The Uffizi said that it has also planned to issue the NFTs of the works in its collection of Titian, Raphael, Botticelli, and Caravaggio.