NFT Revolution Reaches France: CryptoPunks & Autoglyphs to Be Displayed at Top Modern Art Museum
In its next permanent exhibition, the Centre Pompidou in France, which is a major museum of modern art, will showcase NFTs by some well-known digital artists in this summer’s Centre Pompidou.
The art museum announced Friday that it will be displaying a collection non-fungible tokens by 13 digital artists around the globe. It will include some popular NFTs from blue chip collections such as CryptoPunk #110 or Autoglyph #25. Both of these items were donated to Centre Pompidou.
“The Center Pompidou acquires works that deal with blockchain and artistic creation. It also includes its first NFTs!” According to a rough translation of the tweet from the museum. The collection includes 18 projects by 13 French artists and international artists.
Xavier Rey (director of the French National Museum of Modern Art) released a press release announcing that a CryptoPunk NFT had been donated to the museum. Not noted Rey said that the Centre Pompidou “continues to pursue its interest in digital arts, in connection with blockchain.”
Web3 is an exciting territory that artists have seized upon to produce original and daring art, and this collection reaffirms the support we give artists in their quest for new expressions, which is the foundation modern art.
Yuga Labs, which is behind popular NFT projects such as Bored Ape Yacht Club or CryptoPunks had previously donated CryptoPunk #305 at Art Basel 2022 to the Institute of Contemporary Art. According to the company, it will continue to donate Punks to top art institutions around the world in future.
Greg Solano, cofounder of Yuga Labs said that this is a “great moment for the web3/NFT ecosystem” because it will open the door to a collective understanding about how digital art can best be appreciated and accepted for its modern relevance.
It’s worth noting that NFTs and metaverses have been a topic of great interest over the past year, despite the wider market downturn that has seen major cryptocurrency like Bitcoin and Ethereum lose 70% to 70% compared with their all-time highs.
Casinos En Ligne NFT experts claim that sales of non-fungible tokens are on the rise. saw A decline of 83 percent in 2022 year-over-year NFT transactions volume fell by at least 83% across all markets, including art and gaming.
In January 2022, the NFT market reached $2.8 billion in monthly sales. This was an unprecedented high. This number dropped sharply in January 2022 due to a string bankruptcies, implosions and a total loss of $2 trillion to the crypto market.
The Defiance Digital Revolution ETF announced earlier this month that it would close by February. It was the first ETF to focus on NFTs or metaverse assets. The fund shares are now down by More than 72% Since its inception.