The Russian State Hermitage Museum is holding a first of its kind virtual exhibition for NFTs. After raising a lot of money in a recent NFT sale, this Russian museum is back at promoting crypto and making money from it. Their newest exhibition takes inspiration from the metaverse. Unlike a few previous exhibitions, this one is free for all. Anyone can take this virtual tour from their devices, be it smartphones or VR glasses. Visitors can create their digital avatars and roam around the virtual university. They can also interact with fellow attendees. However, what they cannot do is buy any of these NFTs. The State Hermitage Museum has made it clear that none of the exhibits are for sale. They have kept away the mention of NFT prices in their exhibition.
NFTs are a rage across the crypto world. Recently, it has been gaining popularity even outside crypto communities. The general population, enthusiastic about art and culture, is adopting NFTs at a fast pace. However, many are also fearing a possible bubble burst for NFTs. A few days back, entrepreneur Gary Vaynerchuk predicted a ‘winter’ for NFTs, saying the current value of NFTs would dramatically fall within a short time.
NFTs are a murky territory when it comes to imposing regulations. While some agree that it is a form of digital asset, others feel that it is another mode of cultural preservation. If it’s the latter, it must not be taxed or regulated. The debate is still on, and the definitive answers are nowhere in sight.