Cannes finds €330,000 selling iconic landmarks as NFTs

The French city of Cannes has sold some of its landmarks this week, in the form of non-fungible tokens.

The auction, which saw iconic landmarks like the Croisette and the Palais des Festivals sold off as NFTs, brought in €330,000.

All together 10 emblematic locations from the southern French city went on sale on Tuesday, offering bidders 3D models and NFTs which they can eventually integrate into the metaverse in order to make a profit by using them to host virtual cultural events.

"Until now NFTs have been limited to graphic creations. For the first time, we have put on sale NFTs linked to real estate locations", explained Arnaud Oliveux, auctioneer for Artcurial, who led the sale.

Which Cannes landmarks were available at the auction?

Cannes, which is famous throughout the world for its prestigious film festival, boasts some of the most beautiful architecture in France.
As well as the Croisette and the Palais des Festivals, the Old Port, Malmaison, and Le Suquet, the historic cradle of the Riviera city, were available to buyers.
All 10 lots found takers, with the highest bid earned by the Palais des Festivals which sold for €65,000 euros.

The Croisette meanwhile garnered an impressive €59,040, with sales totalling €331,936 overall.

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