HomeBitcoinThrough an NFT auction, a Ukrainian art institution will safeguard its artistic...

Through an NFT auction, a Ukrainian art institution will safeguard its artistic and cultural history.

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In order to raise money for operations and the preservation of cultural heritage, the Kharkiv Art Museum introduced a new NFT collection on the Binance NFT marketplace.

Nonfungible token (NFT) use cases are continuing to advance past the touted days of stale digital art collections as the Web3 space grows. NFT usefulness is, however, being reimagined even in the world of art, as is the case with a Ukrainian art museum.

The Kharkiv Art Museum revealed on October 13 that the Binance NFT market now stocks items from its Art without Borders NFT collection.

With earnings going to support the museum’s operations and “preserve the cultural heritage of Ukraine,” as stated in the official announcement, Art without Borders features 15 works of art from the museum’s collection.

Nearly 25,000 works of fine art by Ukrainian and international artists are housed in one of Ukraine’s oldest museums. The NFT collection includes works of art by Albrecht Dürer, Georg Jacob Johann van Os, Ivan Aivazovsky, Simon de Vlieger, and other artists.

Head of Binance NFT Lisa According to him, NFTs provide assurance to donors seeking a safe and guaranteed manner to make a donation during a time of conflict:

“[NFTs] offer peace of mind and security for donors because all transactions are registered on blockchain technology. All donations to causes via NFTs are tracked and can’t be altered or deleted.”

The executive of Binance went on to clarify that because of the blockchain’s transparency, contributors may also track when and whether their donations reached their intended recipients.

In the past, museums have used NFTs to digitize artwork. One such institution is the Royal Museum of Fine Arts Antwerp, which tokenized an expensive work of art from its collection.

Even in metaverse museums, art has been NFT-ized, as when Frida Khalo’s family introduced a piece from their own collection into Decentraland that had never been seen before.

In the ongoing confrontation between Ukraine and Russia, fighting has been particularly fierce in the city of Kharkiv. Consequently, the value of this collection can protect culture that is currently under danger of being destroyed. in which the infamous looting of the National Museum of Iraq in Baghdad in 2003 took place.

Lisa He claims that the emerging NFT technology and the long-standing cultural legacy of Ukraine in the NFT will aid in the reconstruction of culture and history in the real world.

NFTs have already been employed in Ukraine during these unrest-filled times as a form of resistance and assistance. Physical monuments that have been harmed during the battle were restored with the aid of auction proceeds from the NFT.

To preserve a history of significant combat events, the Ukrainian Ministry of Digital Transformation even established its own online NFT museum.

Lisa He declared that Binance would keep funding NFT initiatives that develop realistic, scaleable solutions for a range of social issues, “including the preservation of Ukraine’s historic legacy.”

 

 

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