Newsletter #85
NFTs for cultural preservation
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This week’s featured collection: Ideka_Art_Studio
Ideka_Art_Studio is the collection of Inge De Knop, aka Ideka, an artist from Diksmuide, Belgium. Ideka makes abstract pieces using “flow art” or acrylic pouring in a surrealistic style. The results are stunning! Check it out at lazy.com/ideka_art_studio
The use cases for NFTs continue to expand as cities and institutions embrace their potential for funding cultural preservation.
We love NFTs because they are so full of potential. Digital art and collectibles are cool. But there is so much more that NFTs are capable of. Lately we’ve been exploring a new use case for NFTs: cultural preservation & restoration.
NFTs are already useful as a way to track and verify the ownership and provenance of cultural artifacts, such as works of art, historical documents, or other items of cultural significance. Monuverse, a project based in Italy that is working in partnership with the Office of Cultural Heritage for the City of Milan, takes this a step further. They are using NFTs to fund the preservation of The Arch of Peace, one of Milan’s most iconic monuments.
Elsewhere, NFTs are being used to help prevent the theft or destruction of historical or culturally significant items, and can also provide a way for people to securely and verifiably donate or contribute to the restoration of these items.
For example, in October of this year, The Kharkiv Art Museum in Ukraine launched “Art Without Borders,” a new NFT collection on the Binance NFT marketplace to raise funds for the preservation of cultural heritage. Fifteen artworks from Kharkiv Art Museum’s holdings were digitized and sold as NFTs.
Perhaps most interesting of all is the example of Tuvalu, an island nation under threat from rising sea levels. Recently Tuvalu declared itself “the first digital nation.” Tuvalu’s foreign minister told the COP27 climate summit that the nation plans to build a digital version of itself in the metaverse in order to preserve its history as it faces erasure due to climate change.
The role of NFTs continues to expand as the technology matures. Tracking the ownership of unique artworks and funding the preservation of cultural landmarks is just a tiny glimpse of the important role NFTs will play in the years ahead.
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