Hermitage goes crypto – World’s second largest art museum exhibits NFT art
The NFT exhibition is part of a digital art project
Russia’s Hermitage, the world’s second largest art museum, plans to host a digital art exhibition that will include crypto art in the form of non-fungible tokens (NFTs).
The corresponding event is scheduled to take place before the end of 2021, with this being the first Immediate Bitcoin exhibition of NFT art in Russia, the museum announced on Thursday.
The exhibition will take place within the framework of the „Hermitage 20/21“ project, which is specifically designed to present modern art. Accordingly, the announcement states:
„Non-fungible tokens are a new form of securitising the rights to a work of art via blockchain technology, giving artists sole control over copyright and ownership.“
The Aksenov Family Foundation, a fund that promotes art and culture in Russia, is involved in the NFT exhibition as a strategic partner.
The digital presentation will also test new forms of engaging the art-interested public
The Saint Petersburg-based museum houses three million works, including pieces by some of the most important artists ever. With Crypto-Art, the Hermitage is now taking an important step towards expanding this treasure, not losing touch with modernism and maintaining its own relevance.
Whether the exhibition will also be accompanied by an auction of NFT art is, however, unclear. At the time of going to press, the museum had not yet responded to Cointelegraph’s enquiry.
As Cointelegraph had reported, NFTs are gaining interest in the crypto industry because of their literal lack of fungibility, which makes them the perfect vehicle for art and collectibles. For example, artist Kevin Abosch, who will be exhibited at the Hermitage, is also trying his hand at the technology.