Ten emblematic places in the city of Cannes, in the south of France, including the Palais des Festivals, were sold virtually this Tuesday, in the form of NFT, in an auction that raised more than 330 thousand euros.
“For the first time, we are putting NFTs up for sale (Non-fungible tokens either symbolic Non-Fungible) linked to real estate”, said Arnaud Oliveux, auctioneer of the Artcurial house that managed the sale that took place in the Cannes port captaincy.
NFT fashion. What digital art is this that is worth millions of euros?
NFTs are digital assets that due to a blockchain technology, called “blockchain”, are registered as unique, non-replicable and whose transaction history can be traced back to origin.
Since March 1, French law authorizes auction houses to offer “intangible goods” and, this Tuesday, ten emblematic places of the city famous for its international film festival were auctioned.
In addition to the Palais des Festivals, the Croisette, the promenade, and the Old Port or Suquet, the city’s historic cradle, were also auctioned.
The highest bid was for Palais des Festivals, which was acquired for 65 thousand euros, while the Croisette fetched 59,040 euros, the auction house said in a statement.
The auction amounted to 331,936 eurosincluding costs, Artucurial also highlighted, who considered this type of sale “a success”.
Buyers will receive a secure digital key containing the NFT and a 3D model of their purchase, which they can then integrate into the metaverse (virtual world) for commercial or cultural use, explained Charles-Henri Puaux, CEO of Pertimm, a specialist online trading service provider.
Among other possibilities, the buyer will be able to open virtual stores on the Croisette or hold events or festivals in the palace, “respecting the uses provided for in the contract,” added Puaux.
Source: Observadora
