The State Hermitage Museum, a museum of art and culture in Saint Petersburg, Russia, which is the second-largest art museum (after the Louvre in Paris), has announced that it will be holding an non-fungible token (NFT) art exhibition.
According to the announcement made by the Hermitage Museum on Thursday (March 25), this exhibition — will be held as part of the Hermitage 20/21 Project — is being created by the Museum’s Department of Contemporary Art.
The English translation of the press release went on to say:
“The Hermitage project will become the first exhibition research in Russia in the field of art of NFT tokens and their use in the artistic field, which is the most urgent agenda in the field of contemporary art today. Non-fungible tokens have become a new form of securing rights to a work of art using blockchain technology, which allows you to establish unambiguous control over copyright and ownership rights…
“The exhibition will be a continuation of the State Hermitage’s work on new forms of art… Aksenov Family Foundation will be the strategic partner of the project. The goal of many of the foundation’s projects is to study the forms of audience involvement in new cultural practices.“