Ukrainian Art Museum will preserve artistic and cultural heritage through NFT auction

As the Web3 space expands, use cases for non-fungible tokens (NFTs) continue to expand beyond the vogue days of stagnant digital art collections. However, even in the field of art, the NFT utility is being reinvented, as is the case with a Ukrainian art museum.

The Kharkiv Art Museum announced on October 13 that its “Art Without Borders” NFT collection is now available on the Binance NFT Marketplace.

It includes 15 works of art from the museum’s collection, the proceeds of which are donated to fund the museum and “save Ukraine’s cultural heritage”, as stated in the official announcement.

The museum is one of the oldest in Ukraine, with nearly 25,000 works of art by artists from Ukraine and around the world. Works by Albrecht Dürer, Georg Jacob Johann van Os, Ivan Aivazovsky, Simon de Vlieger and others are featured in the NFT collection.

Lisa He, Head of Binance NFT, told Cointelegraph that in times of conflict, when donors are looking for a safe and secure way to donate funds, NFTs provide reassurance.

“[NFTs] offer peace of mind and security to donors as all transactions are recorded on blockchain technology. All donations to causes through NFTs are tracked and cannot be edited or deleted.”

The Binance executive continued to say that blockchain transparency also lets donors know when and if funds have reached their intended destination.

Related: Museums in the Metaverse: How Web3 Technology Can Help Historic Sites

Museums have used NFTs as a way to digitize art in the past, such as the Royal Museum of Fine Arts Antwerp which symbolized a piece from its collection worth millions of euros.

Art has even been NFT-ized in metaverse museums; like when Frida Khalo’s family brought an unreleased piece from their private collection to Decentraland.

Meanwhile, the city of Kharkiv has been the subject of intense fighting as part of the ongoing conflict between Ukraine and Russia. Therefore, the usefulness of this collection can preserve the culture that is currently threatened with destruction, which was the case during the infamous looting of the National Museum of Iraq in Baghdad in 2003.

Lisa He says that the combination of “nascent NFT technology and long-standing Ukrainian cultural heritage in NFT will support the reconstruction of culture and history in real life”.

NFTs have already been used as an act of help and resistance in Ukraine during these turbulent times. Proceeds from an NFT auction were used to help restore physical monuments that were damaged by the conflict.

Ukraine’s Ministry of Digital Transformation has even launched its own NFT Digital Museum to document and maintain a timeline of major events in the conflict.

Lisa He said that Binance will continue to support NFT projects that create practical and scalable solutions to various social issues, “including preserving Ukraine’s cultural heritage.”

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