Non-fungible tokens (NFTs) are a type of digital asset that
has exploded in popularity recently, with NFT artworks selling for millions of
dollars. NFTs exist on a blockchain, a record of transactions kept on networked
computers.
The museum opened its doors on Jan. 14, and has been
providing an outlet for artists, creators, and collectors to display their NFTs
in a physical setting, while aiming to educate 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 Seattle NFT
Museum.
Local digital artist Maksim Surguy attended the opening of
the museum's 'Climate Conversation' exhibition on April 16, which features his
designs that are sold as NFTs online, but can also be printed in physical form.
"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," said Surguy, who works in Seattle's tech industry and
ventured into crypto-based art a year and a half ago.
According to a March report from Ireland-based Research and
Markets firm, the global NFT market is expected to grow to over $21 billion in
2022.
"An NFT is really just a contract that signifies the
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 piece of art, and if you own this token, you are
the rightful owner."
The museum has programming planned throughout the year.
"I can't emphasize enough how important the educational
part of this museum is," said 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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