- The aristocratic Lobkwicz family is using blockchain technology to preserve and restore family artifacts.
- The family inherited artifacts stolen by the Nazis and communists in the 1990s during World War II.
- The family has funded more than 50 art restoration projects and raised $300,000 through NFT sales.
Czech Prince William Rudolf Lobkovic is reportedly using NFTs, Cryptocurrencies and MetaverseTake back the stolen past ownership of his noble family.
His family inherited artifacts and property stolen twice by two different authoritarian regimes – once by the Nazis during World War II and again by the Communist Party in the early 1990s, According to CNBC.
According to CNBC, the family inherited “three castles, a palace, 20,000 movable artifacts, a library with some 65,000 books, 5,000 musical artifacts and works – including the early days of Beethoven’s Fifth Symphony. Copies — and 30,000 boxes and folios, some of which were never opened.”
Lobkowicz’s father, William Sr., also traveled throughout former Czechoslovakia to reclaim his family heritage.
“Our items were taken to over 100 locations, so we crisscrossed Czechoslovakia and recovered tens of thousands of movable items,” Lobkowicz’s father told CNBC. “We probably covered hundreds of thousands of miles.”
But now, according to CNBC, Lobkowicz is trying a different strategy to incorporate blockchain technology to protect his family legacy and restore the artifacts they inherited.
According to CNBC, noble families minted images of paintings they inherited that needed to be repaired as NFTs, and set the price of the tokens based on the repair costs.
“It’s not just selling NFTs to support cultural monuments, it’s looking at how do we preserve our historical records?” Prince told CNBC. “Blockchain technology provides an immutable record of our cultural heritage that you can keep on-chain like never before.”
According to CNBC, at the end of the restoration, those who bought the NFT will receive a second digital asset for the restored painting.
According to the outlet, the family has funded more than 50 art restoration projects and raised $300,000 through NFT sales.
According to CNBC, the outlet reports that in addition to the young prince’s sponsorship business model proving, Lobkowicz also plans to experiment with other blockchain technologies, notably in the forthcoming Irreplaceable Castle in Prague, which runs Nov. 4-5. .
The family is also using blockchain technology to restore more than just paintings.
Lobkowicz has also partnered with Somnium, a virtual reality metaverse built on the Ethereum blockchain, to upload and sell a three-month restoration project for the Belvedere rooms in China at one of its palaces in Prague, located in On the Metaverse, a famous crypto influencer named Oxb1. $79,000.
“What I’m doing now, I don’t think it’s different from any of my predecessors. Every prince has done something completely different based on the era they’re in,” he told CNBC.