The World’s First NFT Museum in Seattle Aims to ‘Draw the Curtain’ on Blockchain Art By Reuters

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© Reuters. A visitor takes pictures of signage during the ‘The Climate Conversation’ exhibition at the Seattle NFT Museum, the first permanent blockchain-based digital art museum in the world, in Seattle, Washington, USA, April 16, 2022. REUTERS / Matt Mills McKnight

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SEATTLE (Reuters) – The world’s first permanent NFT art museum has opened in Seattle with the aim of “pulling back the curtain” for blockchain-based digital art.

Non-fungible tokens (NFTs) are a type of digital asset that has exploded in popularity recently, with NFT works of art selling for millions of dollars. NFTs are found on a blockchain, a record of transactions stored on network computers.

The museum opened its doors on January 14 and has given artists, creators and collectors the opportunity to display their NFTs in physical surroundings, while aiming to inform the public about this fairly new market for digital art.

“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,” said Jennifer Wong, a co-founder and curator at the Seattle NFT Museum.

Local digital artist Maksim Surguy attended the opening of the museum’s ‘Climate Conversation’ exhibition on 16 April, which shows his designs sold as NFTs online but which can also be printed in physical form.

“In the past, if you were making a digital artwork or physical work of art, there were many restrictions on who could see the artwork or how they could own it,” said Surguy, who works in Seattle’s technology industry and ventured into crypto-based art. one and a half years ago.

According to a March report by the Irish research and marketing firm, the global NFT market is expected to grow to over $ 21 billion by 2022.

“An NFT is really just a contract that signifies ownership of an asset of some kind,” said Peter Hamilton, who co-founded the museum. “These tokens … are basically a contract that says this serial number belongs to this work of art, and if you own this token, you are the rightful owner.”

The museum has planned programming during the year.

“I can not stress enough how important the educational part of this museum is,” Hamilton said. “We try to build people in and help them see what the value of NFTs is and help people pull back the curtain a little bit on what blockchain is and what its usefulness is.”

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