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

Kharkiv Art Museum has launched a new NFT collection on the Binance NFT market to help raise funds for operations and preservation of cultural heritage.

As the Web3 space grows, the use cases for non-fungible tokens (NFTs) continue to expand beyond the hyped 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 will be used 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 insurance

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

The Binance executive went on to say that blockchain transparency also allows donors to know when and if funds have reached their desired 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