What role did Machado de Assis play in founding the Brazilian Academy of Letters?

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In 1896, the renowned author Joaquim Maria Machado de Assis played a pivotal role in founding the Brazilian Academy of Letters in Rio de Janeiro, working alongside several of his contemporaries to establish the institution.12

Following the Academy's establishment, Machado de Assis served as its first president, a position he held until his death in 1908. The Academy is widely considered the most prestigious of Brazil's learned societies.123