Art Museums Leverage NFT Tech to Bring Masterpieces to the Blockchain

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Four major Italian museums have partnered with a project which sees them showcase and sell NFT reproductions of masterpieces from the likes of Leonardo da Vinci , Caravaggio, Raphael, and Modigliani. The initiative, which leverages the internationally patented DAW technology of tech company Cincello, was initially been debuted by London’s Unit Gallery earlier this month. 

The exhibition, dubbed ‘Eternalising Art History: From Da Vinci to Modigliani’ was launched by the London Gallery on February 16th, and will continue until March 19th. The exhibition features digital versions of six famous Italian masterpieces, which, in an effort to mimic their original counterparts as much as possible, are displayed via screens which are surrounded by handmade replicas of the artwork’s original frame. Each of the digital versions of the six paintings (which are being coined as ‘DAWs’) have been certified on the Ethereum blockchain, and can be traded as NFTs. 

The Italian museums who are joining the novel fusion of luxury art and blockchain technology are Florence’s Uffizi gallery, Parma’s Complesso Monumentale della Pilotta, and Milan’s Pinacoteca di Brera and Veneranda Biblioteca Ambrosiana. 

Each of the works will contain nine NFT editions, all of which will fall in the price range of $114,000- $284,000 a piece. They will come with a signed certificate of authentication from Cincello and the museum in which the art was held. The art’s copyright will still be held by the museum of origin.

The Museums who make a sale will each receive 50% of the net revenue, with such funds expected to help fund their art conservation programs, as well as help counteract any lost revenue incurred from the pandemic. The remaining 50% will be split equally between the museum and Cincello.

‘Eternalising Art History: From Da Vinci to Modigliani’ is the first of three DAW-infused art exhibitions, with more NFT-ified master works expected to be brought to digital-life soon.  

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