NFT (Non-fungible token) is a very popular digital asset in recent times with works reaching up to millions of USD. NFT exists on the blockchain, a tool that keeps track of transactions on networked computers.
This NFT museum opened on January 14. This museum is like an outlet for artists, creators and collectors to display their NFT products in a real environment. At the same time, this is also geared towards educating the public about this relatively new digital art market.
Jennifer Wong, co-founder and curator of the NFT Seattle Museum shared:We recognize the impact of being able to see this art form in such a way that when you slow down you can see all the details.“.
According to a March report by an Ireland-based market research firm, the global NFT market is expected to grow to over $21 billion in 2022.
Mr. Peter Hamilton, co-founder of the museum, said: “An NFT is really just a contract that represents ownership of an asset. This is basically a serial code contract that belongs only to that work and if you own this serial code you are the rightful owner of the work..”
The museum has scheduled programs throughout the year. Mr. Hamilton added: “I cannot stress enough the importance of the educational part of this museum. We are trying to reach people to introduce the value of NFT and help people pull up the curtain to reveal what blockchain is and its benefits.“.
Source: Reuters