Russian State Hermitage raises $440K via Binance NFT auction By

Despite the Russian state maintaining a mostly unfriendly stance on cryptocurrencies like (BTC), a major state-backed museum is benefiting from the industry by raising hundreds of thousands of dollars with nonfungible tokens, or NFTs.

The Russian State Hermitage Museum, the largest museum in the world, has finished its first auction on the NFT platform by Binance — the world’s largest crypto exchange — selling five tokenized collectibles depicting masterpieces from artists like Leonardo da Vinci and Vincent van Gogh.