NFTs are taking over the art world despite some legal uncertainty

However, the vagueness that still surrounds the rights attached to an NFT linked to a work of art dissuades public museums from exploiting the vein. In Italy, where the artistic heritage is immense, the Ministry of Culture has declared that it is suspending its projects for the creation of NFTs linked to works of art, for lack of legal certainty.

A use to think about better?

One company, Cinello, has signed contracts with Italian museums to sell digital reproductions of their art treasures. But the associated NFT is only one option offered to the buyer, underlines Cinello, anxious to distance itself from the runaway around non-fungible tokens.

Cinello sells a high definition digital reproduction of the work, which is contained in an electronic box given to the buyer. This case is connected to a screen the size of the work, surrounded by a handcrafted frame reproducing the original frame. The digital reproduction is protected by a code system, and supplied with a certificate of authenticity which can, if necessary and if the buyer so requests, be supplemented by an NFT.

Cinello indicates that it has already digitized 200 works, including those of illustrious masters such as Leonardo da Vinci, and claims that its reproductions have already provided 296,000 euros in revenue to Italian partner museums.

In general, the founder of Cinello, the computer engineer Francesco Losi, is still skeptical about the potential of NFTs in the field of art. “I’m not saying that NFTs will disappear” he says, but many are “used incorrectly”.

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