MIDA offers institutions a new way to valorize the masterpieces they preserve through the creation and sale of unique NFT artworks to the Metaverse’s collectors.
MIDA creates value, innovates and connects people promoting the collective Cultural Heritage.
The auction is fully managed on-chain through a dedicated smart contract, ensuring transparency, confidentiality and regularity of execution for all the parties involved. At the end of the auction, the majority of the proceeds are remunerated to the right holder of the Artwork.
In addition, the institution earns the right to half of the 7% Royalty charged on every trade involving each NFT Masterpiece in the secondary market.
The NFT and traditional art market both rely on the same fundamentals: authenticity and uniqueness. Therefore it is mandatory for MIDA to guarantee these two characteristics to collectors, and above all to institutions, whose potential income is tied to the maintenance of these two pillars.
For this reason, we demand reciprocal commitment between the company and the Museum, through contract, that no other NFT copies of the same work will be produced besides the one kept by them and the one destined to be commercialized through auction, in order to preserve the value of the NFT Masterpieces on the market.
Market saturated by algorithmic collections of NFT JPGs