October 6, 2022

  • The noble Lobkwicz family uses blockchain technology to preserve and restore family artifacts.
  • The family inherited items stolen by the Nazis during World War II and the Communists in the 1990s.
  • The family has funded more than 50 art restoration projects and raised $300,000 through NFT sales.

Czech Prince William Rudolf Lobkowicz reportedly uses NFTs, Cryptocurrencies and the Metaverseto reclaim ownership of his noble family’s stolen past.

His family had inherited items and property that had been stolen twice by two different authoritarian regimes — once by the Nazis during World War II and again in the early 1990s by the Communist Party. per CNBC.

According to CNBC, the family inherited “three castles, a palace, 20,000 movables, a library of about 65,000 rare books, 5,000 musical items and compositions — including an early copy of Beethoven’s 5th symphony — and about 30 boxes of which no have ever opened.”

Lobkowicz’s father, William Sr., also traveled throughout the former Czechoslovakia to claim his family heritage.

“Our items were moved to more than 100 locations, so we criss-crossed Czechoslovakia to retrieve tens of thousands of movable items,” Lobkowitz’s father told CNBC. “We probably traveled hundreds of thousands of miles.”

But now Lobkowicz is experimenting with different strategies to incorporate blockchain technology to preserve his family heritage and restore the artifacts they inherited, CNBC reported.

According to CNBC, the noble family is clipping images of its legacy paintings in need of restoration as NFTs and setting the token price according to the restoration cost.

“It’s not just about selling NFTs to support cultural monuments, but it’s also looking at how can we keep a record of our history?” the prince told CNBC. “Blockchain technology provides an immutable record of our cultural heritage that you can keep on chain, and that’s something that’s never been done before.”

At the end of the restoration, the person who buys the NFT will receive a second digital asset of the restored board, per CNBC.

According to the outlet, the family has funded more than 50 art restoration projects and raised $300,000 through NFT sales.

The publication said that in addition to proving the young princes’ business model, Lobkowicz plans to experiment with other blockchain technology, particularly in an upcoming installment of a Non-Fungible Castle that will run from November 4 to 5 in Prague , according to CNBC.

The family has also used blockchain technology to restore more than just paintings.

Lobkowicz has also partnered with Somnium, a virtual reality metaverse based on the Ethereum blockchain, to upload and sell a three-month restoration of the Chinese Belvedere Room in one of their palaces in Prague in the metaverse to a famous crypto influencer known as Oxb1 for $79,000.

“What I’m doing right now, I don’t think it’s any different than any of my predecessors. Each prince did something completely different based on the time he lived in,” he told CNBC.

Source link

Leave a Reply

Your email address will not be published.