Da Vinci’s artwork has received the highest bid at 150,500 BUSD in the Hermitage’s first NFT auction on Binance.
Despite the Russian state maintaining a mostly unfriendly stance on cryptocurrencies like Bitcoin (BTC), a major state-backed museum is benefiting from the industry by raising hundreds of thousands of dollars with nonfungible tokens, or NFTs.The Russian State Hermitage Museum, the largest museum in the world, has finished its first auction on the NFT platform by Binance — the world's largest crypto exchange — selling five tokenized collectibles depicting masterpieces from artists like Leonardo da Vinci and Vincent van Gogh.The auction included five NFT copies of Hermitage-hosted artworks, including Wassily Kandinsky’s "Composition VI," Giorgione’s "Judith," Da Vinci’s "The Madonna and Child," Claude Monet’s "Corner of the Garden at Montgeron" and van Gogh’s "Lilac Bush."According to data from the Binance NFT platform, the Hermitage’s auction has generated a total of more than $444,000 worth of Binance USD (BUSD), a US dollar-denominated stablecoin operated by Binance.The auction’s highest bid went to "The Madonna and Child," with the winning bidder placing a 150,500 BUSD bid to buy the digital representation of the famous artwork.Source: Binance NFTAs previously reported by Cointelegraph, all proceeds from the NFT auction will go to the Hermitage.
