Art Museums Leverage NFT Tech to Bring Masterpieces to the Blockchain

We are living in a world where the digital and blockchain revolution has made it possible for creators to earn money from their creations. With this new technology, many have begun discussing how these will impact our society on an ethical level.

The “nfts art” is a new technology that allows for the digital ownership of art. It allows for the transfer and trading of artwork without the need for physical possession. The “nfts art” has been used by museums to bring masterpieces to the blockchain.

Four major Italian institutions have joined forces on a project that will see them exhibit and sell NFT copies of masterpieces by Leonardo da Vinci, Caravaggio, Raphael, and Modigliani. The program, which makes use of Cincello’s globally patented DAW technology, was first unveiled by London’s Unit Gallery earlier this month. 

The London Gallery’s ‘Eternalising Art History: From Da Vinci to Modigliani’ exhibition opened on February 16th and will run through March 19th. The exhibition contains digital copies of six iconic Italian artworks, which are presented through screens surrounded by handcrafted replicas of the artwork’s original frame in an attempt to resemble their original equivalents as closely as possible. Each of the six digital copies of the paintings (dubbed ‘DAWs’) has been validated on the Ethereum blockchain and is now available for trading as NFTs. 

Florence’s Uffizi gallery, Parma’s Complesso Monumentale della Pilotta, and Milan’s Pinacoteca di Brera and Veneranda Biblioteca Ambrosiana are among the Italian institutions that have joined the new synthesis of luxury art with blockchain technology. 

Each work will be available in nine NFT versions, with prices ranging from $114,000 to $284,000 each piece. They will be accompanied by a certified authenticity certificate from Cincello and the museum where the art was shown. The copyright to the work will continue to be maintained by the institution where it was created.

The museums that sell will each get half of the net proceeds, which will be used to finance their art conservation projects as well as compensate for any income lost due to the epidemic. The remaining 50% will be distributed evenly between Cincello and the museum.

The first of three DAW-infused art shows is ‘Eternalising Art History: From Da Vinci to Modigliani,’ with additional NFT-ified classic works likely to be brought to digital life shortly.  

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