Hermitage Museum’s tokenized works auction grosses 444,500 BUSD

MOSCOW, Sep 8 (PRIME) -- Russia’s State Hermitage Museum has sold digital works from a limited offer it created on the base of images from its collection with the use of the non-fungible tokens (NFT) technology, for 444,500 BUSD, Binance NFT, a marketplace of global blockchain ecosystem Binance, said late on Tuesday in a statement.

“The auction run a week from August 31 through September 7, 3 p.m. Moscow time. All the digital copies of the masterpieces presented by the museum were sold out. A total value of the sold works amounted to 444,500 BUSD: The Madonna Litta (by Leonardo da Vinci) for 150,500 BUSD, Judith by Giorgione for 65,000 BUSD, Lilac Bush by Vincent van Gogh for 75,000 BUSD, Composition VI by Wassily Kandinsky for 80,000 BUSD, and A Corner of the Garden at Montgeron by Claude Monet for 74,000 BUSD,” the marketplace said.

The starting price was set at 10,000 BUSD, a regulated stablecoin secured by the fiat money and tied to the U.S. dollar. Every BUSD has a reserve U.S. $1.

All the tokenized digital works were created in two copies – one will be kept at the Hermitage and the second was presented on Binance NFT.

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