Select language:

Your token is kept in the Hermitage

 /  / Russkiy Mir Foundation / Publications / Your token is kept in the Hermitage

Your token is kept in the Hermitage

10.09.2021

Russkiy Mir Editorial

The Hermitage Photo: pixabay.com

There are some good news for art connoisseurs. From now on every person can buy an exhibit from the Hermitage. Of course the buyer should possess a certain amount of money. All this has become possible thanks to new technologies.

We’re not talking about the original pieces of art, since leading Russian museum does not intend to part with them. There are unique digital copies. Last summer, the agreement about the digital art project was signed by the State Hermitage and Binance, one of the largest cryptocurrency exchanges. A limited series of tokenized works from the museum's collections to be released soon.

To understand what is at stake, one have to learn about NFT - three mysterious letters. NFT stands for Non-Fungible (in other words “unique”) token. The token is a term from the world of cryptocurrencies. In the digital world it is an analogue of security: a peripheral device used to gain access to an electronically restricted resource.

There are diverse types of tokens: tokens-shares, tokens-loans, tokens-applications. Non-fungible tokens by their very nature of uniqueness, are used to record information on the ownership of something (in our case a digital work of art) into the blockchain. In other words, it is a digital cryptographic certificate that is completely tamper-proof. It confirms that the person is the owner of the original digital artifact. And heres its main property: such token does not prohibit copying, but confirms the uniqueness of your copy. In a buyers case, his/her digital copy of the original work of art. As strange as it sounds, but its true.

Why is it important? Such a certificate gives person a digital copy with a real value. Its a digital exhibit, from which one can build a digital collection or sell it out for a lot of money - there are already examples. This can be compared, probably, with a very good fake: without a special expertise, no art critic will be able to distinguish the NFT digital copy with just a good copy. Nonetheless identical look, only the original copy has a great value.

Talking about contemporary art, just in March of this year programmer and serial entrepreneur Vignesh Sundaresan, known to the cryptocurrency community as MetaKovan, made headlines for his record-breaking purchase of Beeples Everydays: The First 5000 Days NFT for over $69 million. Mr Sundaresan has underlined that he has no regrets spending such a huge amount. He said also that the rise of NFTs herald a new era where technology allowes artists and collectors around the world to buy and sell art more easily and democratically.

Lets come back to the Hermitage. The digital copies are made from the pearls of the museum collection."Madonna Lita" by Leonardo da Vinci, "Judith" by Giorgione, "Lilac Bush" by Vincent Van Gogh, "Composition VI" by Wassily Kandinsky, "Corner of the Garden at Montgeron" by Claude Monet are leading the list. The project is titled Your token is kept in the Hermitage.

Reportedly, each digital copy to be personally signed by the Hermitage director Mikhail Piotrovsky. With this signature, the general director of the museum certifies the authenticity of a limited series of works, a the same time creating an independent work (by the very fact of applying his signature, date and exact time of signing). Thereby the tokens get an absolute uniqueness. The metadata, becoming an integral part of the NFT, will also indicate the place of signing, the Hermitage building.

So far, for each painting were created two digital copies. One of them will remain in the Hermitage collection, and the second to be auctioned on the Binance crypto exchange. It might be acquisted by anyone with cryptocurrency.

Now, why does the leading Russian museum wants to participate in this project? First of all, proceeds from the sale go to the Hermitage. And secondly, with the development of blockchain technology and NFT, a new art market has been created. It is obviously a digital one, and the museum wants to occupy its own niche in it. As Mikhail Piotrovsky himself declares, This is the way that opens the door to democracy, makes luxury more accessible but at the same time exceptional and exclusive.
Rubric:
Subject:

New publications

Rus at Play 14.10.2021
A significant contribution to the development of professional sports in Europe has been made by Russian players who stepped into the sporting field under the guidance of their parents either at home or in a strange land. Emigrants founded clubs, played at packed stadiums as if they had been sports superstars, and led teams to championships as coaches and managers. Sports clubs are still established by our compatriots today.
A bear dressed in kosovorotka and bast shoes playing balalaika is one of the strongest Russian stereotypes. In reality, bears live in Russian woods or zoos, kosovorotkas and bast shoes could be traced in museums and at folk concerts. In contrast, the balalaika has won its unique place not only on concert posters but also at an international stage, in concert halls, jazz and rock clubs.
Summers in Alaska are short. And the breath of winter is felt from early fall. Famous Russian traveler Sergey Sinelnik knows this better than most people. Since 2019, he has been sailing on an exact replica of the medieval coastal dwellers boat Pilgrim. The journey has taken him to the northernmost American state. This year's voyage is over; next spring, Sinelnik and his crew will sail along the Northern Sea Route to Russia.
Michael Chekhov passed away more than 65 years ago, but his fame and influence in the theatrical and cinema worlds seem to be only growing. The Russkiy Mir found out how Chekhov's methodology is interpreted today in theaters that are named after him, and who is awarded the Michael Chekhov Medal.
Recently FSB declassified the original text of the 1946-1948 Tokyo International Military Tribunal verdict. It referred to the plans of imperialist Japan to seize the Soviet Far East and Siberia. Just a day before the opening of the international forum dedicated to the 1949 Khabarovsk War Crime Trials has started. The forum was dedicated to the trial over Kwantung Army soldiers accused of developing and using bacteriological weapons.
Everyone knows that Russian has been borrowing foreign words. But the fact that Russian has enriched other languages is less known. Scientists from the Institute of Linguistics of the Russian Academy of Sciences have come to a rather unusual conclusion: the growing global influence of English is based on the power of American science, while the Russian language today has a different trump card - everyday life.
enultimate summer weekend in Russia was be marked by the 800th anniversary of Nizhny Novgorod. The city on the Volga River celebrate its milestone birthday on a large scale - throughout the whole of Russia - from August 19 to 21.