Russia’s Hermitage museum to host NFT art exhibition

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Russia’s State Hermitage Museum, the second-largest artwork museum on the planet, is making ready to host a digital artwork exhibition involving non-fungible tokens.

Scheduled to happen in 2021, the Hermitage’s NFT undertaking can be Russia’s first exhibition within the discipline of NFT artwork, the museum formally announced Thursday.

The Hermitage’s modern artwork division is organizing the exhibition, which can be a part of its “Hermitage 20/21” undertaking. The announcement learn:

“Non-fungible tokens have turn out to be a brand new type of securing rights to an paintings utilizing blockchain expertise, which lets you set up unambiguous management over copyright and possession rights.”

The Aksenov Household Basis — a neighborhood cultural and social innovation fund — can be a strategic accomplice of the Hermitage’s NFT undertaking, which goals to check new types of viewers involvement in cultural practices.

Situated in Saint Petersburg, the Hermitage is a federal museum comprising three million objects. The Hermitage didn’t specify whether or not the museum is planning to conduct an NFT public sale sale as a part of its upcoming exhibition. The museum didn’t instantly reply to Cointelegraph’s request for remark.

As Cointelegraph beforehand reported, some artists whose work has been exhibited on the Hermitage — like Irish conceptual artist Kevin Abosch — have been closely concerned within the crypto business, experimenting with NFT technology for digital art installations.