News Center

Cannes, France will auction ten urban landmark heritage sites in the form of NFT digital collections and include them in the 'metaverse'

According to the French newspaper "Le Figaro", at a special auction held last week, the city of Cannes in France auctioned off ten urban landmark heritage sites in the form of NFT digital collections.

Among them, the NFT digital collection at le Palais des Festivals, the venue of the Cannes International Film Festival, was sold for 65000 euros, and the NFT at la Croissette was sold for 59040 euros. Cannes has become a European city pioneer in incorporating urban landmarks into the 'metaverse'.

The NFT digital collection at the Cannes Festival Palace was sold for 65000 euros. Wikipedia image

Cannes is a famous seaside resort on the C ô te d'Azur in southern France. This small town with only 75000 residents is famous worldwide for the Cannes International Film Festival held here every May. The ten city landmarks participating in the NFT digital collection auction are all well-known tourist attractions in Cannes.

Among them, the le Palais des Festivals is the venue for the presentation of the Palme d'Or at the Cannes Film Festival. Every May, many world-renowned filmmakers gather on the red carpet and Avenue of Stars in front of the Palais des Festivals. Meanwhile, Cannes is the second largest B2B salon host city in France after Paris, and is an internationally renowned venue for business events and awards. The Cannes Festival Palace recently upgraded its new Laval Virtual 3D conference and event solution during the pandemic.

The Cannes Festival Palace is the venue for the presentation of the Palme d'Or at the Cannes Film Festival.       

The seaside promenade outside the Cannes Festival Palace, la Croissette, is less than 3 kilometers long and connects the old port of Cannes (le Vieux Port) with the famous water exhibition booth area of the Cannes Yacht Show - Pierre Canton Port. Strolling along the crossroads, on one side are fine beaches and Mediterranean scenery, while on the other side are luxury shops, luxury hotels, and casinos.

Cross Avenue

L 'î le Sainte Marguerite and le Suquet in Cannes are also on the list of NFT digital collectibles transactions. Saint Margaret Island is the largest island in the Cannes Bay Islands, covered by 150 hectares of pristine eucalyptus and pine forests, and nestled among the lush greenery is a heritage building of the Royal Military Fortress of Vauban. The old town of le Suquet in Cannes is built on a hill behind the old harbor, with medieval stone roads winding between colorful old houses. Climbing up the stairs at dusk, one can enjoy a panoramic view of Cannes Bay from the small mountaintop.

Cannes, the Old Town of Souk

NFT is a virtual technology concept that has become popular in the past two years along with the "metaverse". Its full English name is "Non Fungible Token", which is also translated as "Non fungible Token" in China. Each token contains unique data information and exists as an electronic proof of ownership for virtual goods.

Due to its inability to be deleted from digital files, it can be used to represent several digital items, such as movie clips, music soundtracks, videos, skins in games, shields, and other creative works or products. Currently, it is more commonly referred to as "digital collectibles" in China.

At the beginning of 2021, a set of works by digital visual artist Beeple titled "Everyday: The First 5000 Days" sold for a sky high $69.35 million in NFT format at Christie's, quickly igniting the NFT market. NBA star Curry once purchased a monkey pattern for $160000 as his social media profile picture.

The NFT artwork "Everyday: The First 5000 Days" by digital visual artist Beeple sold for a staggering $69.35 million. Wikipedia image

It is reported that after the auction is completed, the winning bidder will receive 3D models of Cannes city landmarks and NFT digital collections, which can be integrated into the "metaverse" and profited by hosting virtual cultural events.

In response, Mathilde Bernard, cabinet advisor to Cannes Mayor David Lisnard, stated that the Cannes Film Festival hopes to use this initiative to implant rich history and heritage into the virtual world, injecting fresh vitality and value into urban heritage.

Mr. Wu Wei, the head of China market research and new market development at the French Tourism Development Agency, said in an interview: "NFT digital collections provide new possibilities for creating and preserving personalized and vivid travel memories due to their unique visual attributes. In the post pandemic era, this may be a breakthrough for the tourism industry, as we have noticed that travelers pay more attention to their inner feelings and personalized travel experiences. NFT technology will play a positive role in creating emotional connections between destinations and travelers. ”

Since Cannes has already taken action, other famous cities may soon follow suit. Other cities are very interested in this approach, especially in the Middle East, "said e-commerce expert Charles Henri Puaux.