For the very first time in the history of art, Seattle unveils the world’s very first permanent NFT art museum—a unique space committed to showing and educating people about non-fungible tokens and blockchain-based digital art. Officially set to open on January 14, the Seattle NFT Museum is to “raise the curtain” on a medium that is rapidly emerging. The venue will offer the possibility for artists, collectors, and enthusiasts to dive into digital art in a truly immersive way.
What Are NFTs?
These are non-fungible tokens that are digital assets, where blockchain technology can ensure a safe transaction and show ownership of something or even a piece of art. Due to this reason, it has skyrocketed in popularity, even to the point of pieces selling for millions of dollars.
As the NFT market is estimated to cross over $21 billion by 2022, the museum will emerge as one of the prominent players in the educational arena about this new art form.
A Space for Art and Education
In this regard, co-founder and curator Jennifer Wong says the art museum helps give individuals the appreciation that they have for digital work. “We really understood the significance of being able to gaze at this sort of work in a way that allows you to slow down and notice all the intricacies,” she says. Contrasting it is the space where the physicality comes in so starkly about artists displaying their work there, yet people get used to such very short-termed experiences when perusing them on the Web.
Maksim Surguy, a local digital artist, was present at the museum’s inaugural “Climate Conversation” exhibition on April 16. His designs, sold as NFTs, can also be printed in physical form—a testament to the versatility and accessibility that NFTs offer artists and collectors alike. According to Surguy, there is a transformative impact wherein NFTs signify that, “Whether you created a digital artwork or a physical artwork, there were many limitations about who could see the artwork or even own it.”.
Bridging the Gap Between Digital and Physical
The Seattle NFT Museum is both a space for exhibition and for educating the public about the blockchain and what this would mean for ownership in art. Co-founder Peter Hamilton highlights the museum’s commitment to education, stating, “We’re trying to onboard folks and help them see what the value of NFTs is and help people reveal more about blockchain technology and its potential applications.
This is a good time for it, as interest in NFTs and digital art continues to grow. There will be programming through the year to make technology about NFTs available to everyone.
Global Context and Future Implications
Another aspect of NFT is that it is not only a growing trend in the art circle but also part of a broader debate on digital assets and cryptocurrencies. For example, recent news in Panama includes the National Assembly implementing a law on crypto assets, which indicates increasing interest in using digital currencies in conventional transactions. This law will allow the people of Panama to use cryptocurrencies in civil and commercial dealings. However, some are afraid that this will damage the country’s long-standing reputation for financial transparency.
Being ahead of the conversation around digital art and blockchain technology, the Seattle NFT Museum sits at the edge of a cultural shift, educating and teaching people the appreciation of NFT. It becomes a space where education and artistic expression can come together to change our view and experience of what art is in the digital realm.
Blockchain enthusiast and crypto expert covering Web3, DeFi, and NFTs.