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NFT: The city of Cannes is preparing to re-enter history

The city of Cannes is preparing to re-enter history! Indeed, on April 5, 2022, the Mayor of Cannes announced on Twitter that she intends to sell 10 iconic landmarks of the city under the name NFT. Cannes will become the first European city to numérize its local heritage in the form of NFT, resulting in a mini-revolution in Europe. This project aims to "promote destination attraction," according to the Mayor, David Lisnard.


NFT: The city of Cannes is preparing to re-enter history

Cannes, at the start of a groundbreaking project

During the Cannes Lions International Festival of Creativity, which runs from June 20 to 24, 2022, ten sites that have been converted to NFT and registered on the blockchain will be sold to the highest bidder. The Vieux-Port, the Forville Market, the Palais des Festivals et des Congrès, and the Île Sainte-Marguerite, for example, will all be converted to NFT. Because the project is so disruptive, the approach is mostly educational.


Face potential incrédulity among residents when it comes to NFT

One of the main issues raised by the NFT is a lack of absorption into the real world. Effectively, the subject of ownership is frequently raised. The interest in purchasing a good that only em2xists on the blockchain is frequently questioned by the connoisseur. To deal with the situation, the mairie has decided to offer a "reward" for each NFT. Acquirers will also receive a 3D replica of the spot where they will purchase a representative NFT. The NFT will also be shown to the general public during an open-to-the-public drone show in the summer of 2022.


The project promotes a local startup

The Marie de Cannes has decided to collaborate with the Cannoise Petrimm company to sell these digital works. This company specializes on artificial intelligence and e-commerce. The entire project, titled "I Meet My NFT," will be shown at the World AI Cannes Festival, which will take place from April 14 to 16. The festival, which has been going on since 1954, aims to highlight new developments in the fields of communication and advertising, as well as creativity as a driving force for progress. With I Meet My NFT, the event embraces modernity and is poised to attract a new audience of blockchain enthusiasts.


The environment and canines are taken into account

The world of NFT is frequently subjected to criticisms over its environmental impact. As a result, the city has promised to donate 10% of the proceeds from the sale to the Cannes Donation Fund, which funds environmental projects. In addition, to encourage residents to approve the project, the last NFT available will be offered to a Cannois by way of a lottery.


For the city of Cannes, there is an economic interest

While the Mayor has expressed a strong desire to promote the city's heritage, the project might also be a profitable venture for the city. As the mayor of Cannes put it, "the municipality se positions itself so on an innovative market in full expansion, source of attraction, radiation, and wealth." Pertimm has taken on the task of reversing the city's royalties. The barème progresses in accordance with the sales volume; for example, a sale of 2 million euros (about 200 000 euros per NFT) would net the city 350 000 euros.

Charles Henri Puaux, president of Pertimm, will present the entire project in detail on Saturday, April 16th, 2022. This project is part of a larger trend of NFT development in the cultural sector. The tokenization of museum works of art (such as those at the prestigious Museum of l'Ermitage or the Galerie des Offices) and NFT museums (such as the Invisible Aeter exhibition at the Museum of l'Ermitage) was well-known. Cannes is on the verge of launching a new trend: the tokenization of the city's urban heritage.

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