Hermitage considering NFTs for fundraising
juillet 04 2021

Hermitage considering NFTs for fundraising

One of the biggest art museums in the world – the Hermitage in Saint-Petersburg – is considering NFTs as a tool for fundraising.

For example, to finance a painting restauration, it could be tokenized in the “before” state and auctioned off among art lovers. NFT being programmable, it can be changed for the “after” version once the restauration is done. NFTs used in this way don’t grant exclusive rights to a painting (that’s not their purpose), but the donators are left with a souvenir they can collect. That’s much more fun than the traditional donation system, not to mention that museums can easily tap into the international pool of philanthropists.

Hermitage is discussing the technicalities with the newly opened Binance NFT marketplace, and if everything goes right, they could give a great example to be used by museums all over the world.