Launching the World’s First NFT Museum
Per a report by Reuters, the world’s first established NFT art museum has opened in Seattle. The museum intends to beam the spotlight on blockchain-based digital art.
Non-fungible tokens (NFTs) are a kind of digital asset that has exploded in popularity recently. We have seen several NFT artworks selling for millions of dollars majorly in Ether (ETH).
The NFT museum launched operations on January 14. With the goal of providing an outlet for artists, creators, and collectors to display their NFTs in a physical setting. It also aims at providing education to the public about the quite novel market for digital NFT art.
Speaking on this, Jennifer Wong, a co-founder and curator at Seattle NFT Museum said. “We realized the impact of being able to look at this type of art in a way where you slow down, you see all the details.”
The museum recently had an exhibition ‘Climate Conversation’ that showcased some works including that of local digital artist Maksim Surguy. The designs were sold online as NFTs but can be printed physically. Surguy who once worked in the tech industry ventured into NFT art about a year and half ago.
“Previously, if you make a digital artwork or physical artwork, there were a lot of limitations about who can see the artwork or how they can own it.” he said.
“Previously, if you make a digital artwork or physical artwork, there were a lot of limitations about who can see the artwork or how they can own it,”
NFT Education the goal
Speaking on NFTs Peter Hamilton, the museum’s co founder said. “An NFT is really just a contract that signifies the ownership of an asset of some kind. These tokens… are basically a contract that says this serial number belongs to this piece of art, and if you own this token, you are the rightful owner.”
The museum has programming planned throughout the year which includes a focus on educating the public on NFTs.
Speaking on the importance of educating people on NFTs, Hamilton said. “I can’t emphasize enough how important the educational part of this museum is. We’re trying to onboard folks and help them see what the value of NFTs are and help people pull back the curtain a little bit on what blockchain is and what its utility is.”
A March report from an Irish-based research and markets firm indicates that the global NFT market is expected to grow to over $21 billion in 2022.