The Binance NFT Marketplace today announced that a premium NFT collection will be launched by the State Hermitage museum in Saint Petersburg, Russia. The NFT auction will begin on August 31 and run until September 7, 2021. NFT art by world-famous artists Vincent Van Gogh and Claude Monet will be featured at the auction.

State Hermitage Museum & Binance Work Together to Sell World-Respected Art in NFT Form

It seems that 2021 is the year of non-fungible token (NFT) collections, as NFT collectibles and artworks have sold for millions of dollars. So far, Beeple’s “Everydays: The First 5000 Days” NFT is the most expensive as the NFT ever sold, as it was purchased for $69.3 million. Another high-profile NFT sale is Cryptopunk #7523, which was acquired for $11.8 million in ethereum (ETH). Bitcoin.com News has been covering a myriad of NFT projects making millions like Bored Ape Yacht Club (BAYC) and the Weird Whales NFT collection.

On August 30, the cryptocurrency exchange Binance announced that the company’s NFT market dubbed the “Binance NFT Marketplace” plans to feature non-fungible token collectibles from some of the world’s most famous artists. Binance NFT Marketplace has teamed with the State Hermitage Museum. Saint Petersburg’s State Hermitage Museum is the largest museum dedicated to art on the planet. It boasts some the finest masterpieces in the world. Russia’s Empress Catherine the Great started the impressively sized art collection back in 1764.

The State Hermitage Museum revealed the NFT collection and Binance NFT Marketplace collaboration on July 26, 2021. The State Hermitage Museum stated that the NFT collection includes works such as the Madonna Litta, Leonardo da Vinci, Judith, Lilac Bush (Vincent van Gogh), Composition VII (Wassily Kandinsky), Corner of the Garden in Montgeron (Claude Monet), and (Wassilykandinsky) The curators of the art museum added

Each digital copy is personally signed by Mikhail Piotrovsky, General Director of the State Hermitage. He signed each digital copy by Mikhail Piotrovsky, General Director of the State Hermitage. This not only confirms the authenticity of a small number of works but also creates an original work of art by adding his signature, the date, and the exact time. The blockchain records this uniqueness. The metadata also saves the place of signing, which is the Hermitage museum itself.

“The blockchain and other new technologies have opened up a new chapter for the development of the art marketplace. This is facilitated by ownership and the guarantee that ownership. “This is an important step in the development relationship between a person, money, and a person, and a thing,” Mikhail Borisovich Piotrovsky said at that time.

Binance says when the auction starts, “there are a total of 5 NFTs for auction [and] each with a starting bid of 10,000 BUSD.” The Binance NFT Marketplace launched this past June and the platform leverages the Binance Smart Chain (BSC).

Binance’s NFT platform has a lot of competition from platforms like Opensea, Crypto.com, and Rarible. Furthermore, the popular crypto exchange FTX is also developing an NFT marketplace, as it announced a partnership with the entertainment giant Dolphin in order to launch the market.

What do you think about the Binance NFT Marketplace platform and the world’s largest art museum teaming up to launch NFTs by Leonardo da Vinci and others? Please comment below to let us know your thoughts on this topic.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Claude Monet, Wassily Kandinsky, and Vincent van Gogh

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