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Wednesday, February 15, 2023
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World’s first NFT museum in Seattle goals to ‘pull again the curtain’ on blockchain artwork


SEATTLE, April 29 (Reuters) – The world’s first everlasting NFT artwork museum has opened in Seattle, aiming to “pull back the curtain” on blockchain-based digital artwork.

Non-fungible tokens (NFTs) are a kind of digital asset that has exploded in recognition not too long ago, with NFT artworks promoting for thousands and thousands of {dollars}. NFTs exist on a blockchain, a document of transactions saved on networked computer systems.

The museum opened its doorways on Jan. 14, and has been offering an outlet for artists, creators, and collectors to show their NFTs in a bodily setting, whereas aiming to teach the general public about this pretty new marketplace for digital artwork.

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“We really realized the impact of being able to look at this type of art in a way where you actually slow down, you see all the details,” mentioned Jennifer Wong, a co-founder and curator at Seattle NFT Museum.

Local digital artist Maksim Surguy attended the opening of the museum’s ‘Climate Conversation’ exhibition on April 16, which options his designs which are offered as NFTs on-line, however will also be printed in bodily type.

A customer takes footage of signage throughout ‘The Climate Conversation’ exhibition at Seattle NFT Museum, the primary everlasting blockchain-based digital artwork museum on the earth, in Seattle, Washington, U.S., April 16, 2022. REUTERS/Matt Mills McKnight

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“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,” mentioned Surguy, who works in Seattle’s tech trade and ventured into crypto-based artwork a 12 months and a half in the past.

According to a March report from Ireland-based Research and Markets agency, the worldwide NFT market is predicted to develop to over $21 billion in 2022.

“An NFT is really just a contract that signifies the ownership of an asset of some kind,” mentioned Peter Hamilton, who co-founded the museum. “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 deliberate all year long.

“I can’t emphasize enough how important the educational part of this museum is,” mentioned Hamilton. “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.”

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Reporting by Matt McKnight; Editing by Diane Craft

Our Standards: The Thomson Reuters Trust Principles.


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