production costs. Those costs—which included taxes, a platform commission, the cost of producing a frame, and a 20 percent operating fee—totaled €100,000.
“It’s fundamental to inform yourself not only from a technical point of view, but also from a legal point of view,” he said. Adding that “certain platforms where you register ownership may not give sufficient guarantees, and you risk losing everything,” he said. “Given that this matter is complex and unregulated,” a spokesperson for the Italian ministry of museums, “the ministry has temporarily asked its institutions to refrain from signing contracts relating to NFTs. The basic intention is to avoid unfair contracts.”
Though its contract with the Uffizi is technically over, Cinello is currently working with 10 other Italian museums, including the Museo di Palazzo Pretorio and Pinacoteca di Brera di Milano.