Virtual Reality

In Cannes, heritage auctioned in NFT format

La Croisette, the Old Port, Île Sainte-Marguerite… Organized during the Cannes Lions Advertising Festival, which will take place from June 20 to 24, the town hall will offer at auction and in the form of non-fungible tokens ten of its heritage sites. A first in Europe.

What if it was possible to buy Boulevard de la Croisette, the Old Port or its famous market?

This is not a Cannes version of Monopoly.

But a virtual reality.

The town hall of Cannes has announced that it is selling several of its heritage sites, in NFT format (non-fungible tokens).

A desire, for the municipality, to become

“the first European city to digitize the emblematic sites of its territory”.

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“Cannes is the first city in France and Europe to invest the metaverse”

, announced the town hall in a series of tweets published on April 4.

“The Town Hall of Cannes, looking to the future, has approached a Cannes company specializing in artificial intelligence to digitize and enhance elements of its heritage”

, continued the town of 75,000 inhabitants.

This project will be presented during the World AI Cannes Festival (WAICF), an event that brings together professionals and individuals around artificial intelligence until April 16.

Read alsoCannes Film Festival: expectations and uncertainties

A total of ten places will be auctioned.

“The sites to be valued will be the Palais de Cannes,

the Boulevard de la Croisette

,

Port Canto

,

Île Sainte-Marguerite

,

the underwater eco-museum

,

Malmaison

,

the Old Port

, the Forville market, the Suquet, the Pointe Croisette and the Georges-Méliès Campus”

, listed the town hall of Cannes.

All will be sold in NFT format, secured by the blockchain system, the database on which NFTs (non-fungible tokens) are stored, the format used by the town hall to sell part of its assets.

“An NFT is a certificate of authenticity, stored immutably on a blockchain, which makes it more efficient than a paper certificate of authenticity

,” she explained.

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The objective, for the mayor of Cannes David Lisnard, is to

“enhance its heritage beyond all borders and position itself in a rapidly expanding innovative market, a source of attractiveness, influence and wealth”

, a- he explained to the

Parisian

.

Before continuing:

“It’s a way of having a unique digital asset that exists in reality.

This may be of interest to people who have made their fortunes in cryptocurrency, investment funds, or wealthy people seeking fame.

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The auction will take place from June 20 to 24, during the Cannes Lions advertising festival.

Carried out under the aegis of the specialized company Pertimm, of which Charles-Henri Puaux is the director, sales could reach

“several tens of thousands of euros to several tens of millions of euros”

, indicated the expert to

Parisian

.

The town hall agreed that the company would pay it royalties

“according to a progressive scale based on the proceeds of the auction”,

10% of which will be directly donated to the municipal endowment fund which finances environmental actions.

And alongside the ten sites announced, an eleventh, for the moment kept secret, will be awarded by lot to one of the inhabitants of Cannes.

Source: https://newsrnd.com/news/2022-04-15-in-cannes–heritage-auctioned-in-nft-format.HJgZMwYL45.html

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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