In recent years, the NFT space has seen a massive surge in popularity. OpenSea, the leading NFT marketplace, has around 250,000 active monthly traders. Similarly, the metaverse has gained momentum, with Facebook investing billions into its version, and the global metaverse market projected to reach $510 billion by 2028.

While NFTs and metaverses have primarily focused on more playful digital art forms, there remains a significant gap in the representation of traditional art. MIDA aims to fill this gap by integrating major museums into the metaverse, enabling these institutions to reach a broader audience familiar with augmented reality and the metaverse.

MIDA's mission is to support art institutions with the economic challenges of preserving timeless masterpieces by generating revenue through the sale of corresponding NFT Masterpieces.

MIDA works by creating high-definition digital copies of artwork using advanced cameras or 3D scanners. These digital versions are authenticated by the rights owner and bonded to smart contracts. One digital copy is auctioned on the blockchain, while the institution retains the other for future virtual exhibitions, mitigating the risk of digital deaccessioning.

Owning an NFT Masterpiece from MIDA offers unique benefits, including access to a network of art professionals, artists, critics, and influencers. MIDA, in partnership with the National Italian Trust, organizes exclusive NFT events in luxurious venues, such as an upcoming event in a villa near Lake Como. Additionally, staking an NFT Masterpiece earns daily rewards in MIDA$, the utility token.

MIDA's auctions are conducted on-chain via smart contracts, ensuring transparency and security. Proceeds from the auctions largely go to the rights holder, and the institution receives a share of the royalties from secondary market trades.

MIDA bridges the gap between traditional art and NFTs by ensuring authenticity and uniqueness, crucial for both domains. As enterprises and institutions transition to NFTs and the metaverse, MIDA aims to facilitate this evolution, linking historical masterpieces with the virtual worlds of the future.