The royal Lobkowicz family reveals a plan for NFT auctions targeted at the digital restoration of the historic valuable art collection and properties. Adding to the plans for the issuance of non-fungible tokens, Prince Willam Rudolf Lobkowicz set up a conference at the Lobkowicz Palace in Prague next month.
According to the prince, who is just 27-year-old, the family did not receive any public funding for the function. Also, the items and locations are considered to be national treasures and cannot be put out on sale without prior approval from the government.
Speaking about the utility of NFTs, the prince said, “My father sometimes says that we are the richest poor people in the world. We are looking to showcase some pieces that are in dire need of restoration.” An example of these royal NFTs will be an animated collectible. The collectible depicts the degradation and renovation of the sgraffito of Hercules panel at Nelahozeves Castle.
The young prince believes the non-fungible tokens are the future. He said, “I can see the non-fungible tokens as the new frontier.” He also said he intends to achieve a connection with the younger audiences through this venture.
As stated above, together with the NFT collection, there will be a conference on the topic of non-fungible tokens. Lobkowicz has also invited different artists to offer their NFTs for sale with half of the sales’ proceeds for restoration.
The Expansion of the NFT Metaverse
Over the last year, NFTs have made their way into the mainstream industry ranging from fashion to sports, real estate, and music, as no stone was left unturned. Via these collectibles’ breakthroughs, the creation of the metaverse became more realistic.
Surprisingly, some of the notable auction houses in the world are into the NFT craze. The Christie’s auction house recently announced a rare and special collection of both curio cards and physical art. While the properties of Lobkowicz are not a major museum, there are synonymous with large institutional collections.
It was announced recently that the British Museum of the United Kingdom recently partnered with Japanese artist Katsushika Hokusai through LaCollection as they made an entrance into the world of NFTs.