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Seattle’s world’s first NFT museum ‘Pulls back the curtain’ on blockchain art

The world’s first permanent NFT art museum opens in Seattle, targeting “pull back the curtain” on blockchain-based digital art.

Non-Fungal Tokens (NFTs) are a type of digital property that has recently become popular, selling NFT artifacts for millions of dollars. NFTs are a blockchain record of transactions kept on network computers.

The museum opened its doors on January 14 and offers artists, creators and collectors an outlet to display their NFTs in a physical setting, while at the same time aiming to educate the public about this newest market for digital art.

Jennifer Wang, co – founder and curator at the Seattle NFT Museum, said: “We really understand the impact of being able to see this kind of art in a way that really slows you down, you see all the details.

Local digital artist Maxim Sergei attended the museum’s ‘Climate Dialogue’ exhibition opening on April 16, in which his designs are sold online as NFTs, but also printed in physical form.

“Previously, if you did digital artwork or physical artwork, there were a lot of restrictions on who could see that artwork or how they could own it,” said Sergey, who works in Seattle’s tech industry and has entered crypto-based art. A year and a half ago.

The global NFT market is projected to grow to $ 21 billion (approximately Rs. 1,606.98 crore) in 2022, according to a March report from Ireland-based Research and Markets.

“An NFT is only an agreement that indicates the ownership of a type of property,” said Peter Hamilton, co-founder of the museum. “These tokens … are basically a deal that says this serial number belongs to this masterpiece, and if you own this token, you’re the real owner.”

Programming is planned throughout the year at the museum.

“I can not stress enough how important the educational component of this museum is,” Hamilton said. “We’ve trying to get people on board and help them see what NFTs are worth and help people pull back the curtain somewhat on what a blockchain is and what its utility is.”

© Thomson Reuters 2022

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