October 3, 2022

  • The Lobkwicz noble family uses blockchain technology to preserve and restore family artifacts.
  • The family inherited artifacts stolen by the Nazis during World War II and the Communists in the 1990s.
  • The family has funded more than 50 art restoration projects and raised $300,000 through NFT sales.

It is said that Czech Prince William Rudolf Lobkovic uses it NFTs, cryptocurrency and metaverseTo reclaim his family’s stolen noble past.

His family inherited artifacts and property that were stolen by two different authoritarian regimes twice – once by the Nazis during World War II and again in the early 1990s by the Communist Party, per CNBC.

According to CNBC, the family inherited “three castles, one palace, 20,000 moving artifacts, a library of nearly 65,000 rare books, 5,000 pieces of art and musical compositions—including an early copy of Beethoven’s Fifth Symphony—and 30,000 chests and newspapers, Some have never been opened before.”

Lobkovic’s father, William Sr., traveled throughout the former Czechoslovakia to retrieve his family’s inheritance.

“Our items were moved to more than 100 locations, so we crossed Czechoslovakia to retrieve tens of thousands of items,” Lubkovic’s father told CNBC. “Maybe we have traveled hundreds of thousands of miles.”

But now Lobkowicz is testing various strategies to incorporate blockchain technology to preserve his family’s legacy and restore the artifacts they inherited, CNBC reports.

According to CNBC, the noble family stamps images of their inherited paintings in need of restoration as an NFT and rates the token according to the cost of the restoration.

“It’s not just about selling NFTs to support cultural relics, but it’s also looking at how do we keep a record of our history?” Prince told CNBC. “Blockchain technology provides an immutable record of our cultural heritage, which you can keep on a chain, something that has not been done before.”

At the end of the restoration, the person who buys the NFT will get a second digital asset of the restored board, according to CNBC.

According to the outlet, the family has funded more than 50 art restoration projects and raised $300,000 through NFT sales.

The outlet reported that in addition to demonstrating the patronage business model, Lobkowicz plans to experiment with other blockchain technology, notably at an upcoming segment of the Non-Fungible Castle starting November 4-5 in Prague, according to CNBC.

The family has also used blockchain technology to recover more than just paintings.

Lobkowicz has also worked with Somnium, a virtual reality metaverse built on the Ethereum blockchain, to upload and sell China’s Belvedere room for three months in one of their Prague mansions on the metaverse to a popular crypto influencer known as Oxb1 for $79,000.

“What I’m doing now, I don’t think it’s any different from any of my predecessors,” he told CNBC. “Every prince did something completely different based on the times they lived in.”

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