Museums Snapping Up NFT Artwork Regardless of Bear Market

NFT News


We is likely to be in the course of a crypto winter however that hasn’t stopped NFTs from going from energy to energy. One of many ways in which this has occurred is thru prime museums all over the world just like the Museum of Trendy Artwork (MoMA) in New York Metropolis taking up extra NFT artwork for exhibition. 

The museum has an ongoing partnership with Turkish American artist Refik Anadol and shall be debuting a brand new NFT assortment known as Refik Anadol: Unsupervised from November 19, 2022, to March 5, 2023. 

The connection between the museum and Anadol began final yr after the artist used an AI to create NFTs from the 1000’s of things within the MoMA archives. Not solely have been the items a monetary success, with some commanding lots of of 1000’s of {dollars} however the museum additionally discovered a brand new earnings stream through secondary market royalties. 

Given what number of museums, together with MoMa, have been laborious hit on account of the pandemic and noticed a decline in attendance (and thus, income), this new-found NFT enterprise has been very helpful. Talking to the New York Occasions, Paola Antonelli, MoMA’s senior curator of structure and design, this is part of the museum embracing change. 

Being open to new expertise is a part of our accountability. We’re by no means leaping on new applied sciences, however moderately realizing that we have to preserve tempo with the world,” she says.

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