The city of Cannes announced Tuesday that it will be the first European city to convert its iconic monuments into NFTs. The city will sell these NFTs through an auction.
This means you now have the opportunity to own the Boulevard de la Croisette or the Palais des Festivals as NFTs. The city’s move comes as an effort to “invest” in the metaverse.
Cannes NFTs: Everything you need to know
Cannes will convert a total of 11 iconic venues into NFTs. These include Port Canto, Île Sainte-Marguerite and its Fort Royal, Malmaison and the Old Port. Others on the list include the Forville market, Le Suquet, Pointe Croisette and the Georges Méliès campus.
“This operation aims to promote the attractiveness of the Cannes destination through the enhancement and promotion of its historical heritage, a vector of identity and authenticity,” said the city council.
To convert the monuments into NFTs, Cannes is working with a local company, Pertimm. Pertimm, an innovative French company, has more than 20 years of experience in artificial intelligence and e-commerce.
Cannes will auction 10 of the NFTs during the Cannes Lions International Festival of Creativity. The festival will be held June 20-24, 2022. It will then give away the 11th NFT to a Cannes resident through a raffle. In addition, the city will donate a portion of NFT sales to the Cannes Foundation to develop environmental protection projects.
Several initiatives to promote NFTs have emerged across Europe in recent months. Last month, for example, the NFT Factory announced plans to open a 400-square-meter space in Paris in September 2022. The NFT Factory, a collective of Web3 pioneers, aims to position France as a leader in the Web3 space.
