More and more museums have started to take an interest in NFTs this year and no better example is the case of the prestigious British Museum who have partnered with La Collection to auction Hokusai NFTs.
besancia · 11/26/21 · 3 min · Beginner
La Collection is a French startup co-founded by entrepreneur Jean-Sébastien Beaucamps. Its role is to help companies achieve their digital transition into the NFT ecosystem. This year, La Collection contacted thirty museums and galleries to offer its services and the British Museum accepted their proposal and the partnership was born!
According to the Art Newspaper, Craig Bendle, the licensing manager of the British Museum said following:
“It is so important that as a museum we continually adapt to new markets and find new ways of reaching people that we may not reach through traditional channels.”Craig Bendle
Moving forwards with this desire for adaptation and evolution, an NFT collection has been created in parallel with Katsushika Hokusai’s exhibition which takes place at the British Museum from the 30th of September 2021 to the 31st of January 2022.
Throughout the duration of the exhibition, several drops and auctions will take place. It is important to clarify first of all that the purchase of an NFT from La Collection will not allow you to own the physical works.
Of the 200 works by Hokusai that will be available to view and buy, some of them are on display for the first time in the world. NFTs will have several levels of rarity, thus defining the number of associated editions:
For each of the rarity levels, the British Museum will keep an edition. Also, it’s important to note that for each sale on the secondary market, 10% of the royalties will go to museums and 3% for the Collection.
Throughout his life, Katsushika Hokusai drew and painted many works. For each stage of his travels, there are therefore specific collections. For example, “Under the Wave off Kanagawa” is a part of the “36 Views of Mt Fuji”, which is his best-known collection.
As though a way to tell his story, the auctions of his major works are offered over time, at the moment, “Red Fuji” is in the spotlight. And soon it will be “Onikojima Yataro and Saiho-in Aka-bozu wrestling with a large bronze bell”.
It’s important to know that some works are offered exclusively during private sales. In order to be invited, it’s necessary to obtain a special code which will be sent after creating an account and purchasing an art work.
Being part of this early adopter community will have other benefits like airdrops and exclusive information for other upcoming sales. Also, once the exhibition is over, the only way to get these creations will be on the secondary market..
Regarding the technical aspects, several things deserve to be highlighted. On one hand, the Ethereum blockchain was chosen to host the collection. Aware of the environmental concerns brought about by Proof of Work, La Collection has pledged to plant a tree for each NFT sale: they call it the NFTree Programme.
Another interesting aspect for buyers are the low transaction fees: the mint is not made during the transaction. Only the costs of a normal shipment are necessary to proceed with the purchase and so in this way only the purchased NFTs are created.
For more information, do not hesitate to follow La Collection on its different channels:
Disclaimer: This is a sponsored article. No content or article should be considered as financial advice. We strongly recommend you to conduct due diligence and always do your own research before investing in a project.
Art · Beginner · 3 min
More and more museums are starting to use NFT to raise funds or experiment new art experiments. Which are the different museums that lent themselves to the experience and what did they do?
Written by kay · 02/08/22