Uganda Museum Collaborates With Software Development Firm to Create NFTs for Display on Binance Marketplace

On February 10th, 2018, the Uganda Museum and the Digital Currency Foundation (DCC) of the National University of Singapore signed a Memorandum of Understanding that will see the DCC develop a digital currency platform for the museum which will allow visitors to pay for their entrance tickets via cryptocurrency.

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The idea of creating a digital currency that does not require mining is a strong one. If the integrity of the blockchain is maintained and the transaction fee is low, then such a currency can be more stable than traditional ones, which are subject to manipulation. NFTs also allow for more transactions to take place, and at lower costs. To the average person, however, such a currency may seem like a novelty or a gimmick, and is therefore not very popular.. Read more about nft platforms and let us know what you think.

One of Africa’s oldest museums, the Uganda National Museum (UNM), is creating digital representations of the unique objects on display at the institution. In partnership with software company Murcom, Uganda’s largest museum is expected to auction and offer digitally presented pieces on Binance’s non-token trading platform (NFT).

National Museum of Uganda Artifacts to be produced by NFTs

According to Murcom’s announcement on Medium, blockchain-based digital representations of various objects in the museum’s care will be created using the software company’s MUDA NFT platform. The 24th. Binance will launch NFT in June, and UNM and MUDA will be part of the 100 Cryptocurrency Creators campaign. Murcom director Suleiman Murunga explains why the Ugandan museum joined the NFT movement. He begins by explaining the creation and authentication process of the medals. He then briefly describes Murcom’s working relationship with the museum: As part of this partnership with the National Museum, we will create an online website that highlights the NFT and the objects it represents. We will take professional photos of various objects and convert them into digital artworks, then overlay these digital artworks on the blockchain and create the NFTs mentioned above. The Murcom director added that the NMTs are set for items such as Ugandan cultural property, royal insignia, prehistoric artifacts and ancient tools. The same post on Medium states that this project was started with the main goal of raising awareness of the museum and funds. In addition, this NFT marketplace will also allow artists and content creators to perform NFT on the Binance Smartchain. What do you think of the National Museum of Uganda’s decision to establish an NMT? You can share your thoughts below in the comments section. Photo credit: Shutterstock, Pixabay, Wiki Commons Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.This week Binance launched a new cryptocurrency exchange platform that will allow users to trade digital assets in a secure and compliant manner. The new platform, called Binance Labs, will launch with four projects: the U.S.-based blockchain startup, Binance Labs; the Singapore-based company, Republic Protocol; the U.S.-based company, Bitt, which provides blockchain technology to companies; and the Ugandan museum’s Nairobi Blockchain Centre.. Read more about where do you buy nfts and let us know what you think.

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