The founder and CEO of Momentable is confident that the future transformation of museum exhibits into NFT galleries is inevitable.
Serving major museums, Momentable spends a lot of time exploring the prospects and opportunities for the art world associated with the use of blockchain and NFT technologies.
Momentable CEO Hussein Hallak told reporters that Momentable’s company is seeing a gradual infiltration of digital art from virtual museum displays into traditional museum venues:
“NFT is an essential technological innovation that museums cannot afford to ignore if they want to step into the future. Its implementation must necessarily be provided for in a broader roadmap for the strategic modernization of the museum business.”
According to Hallak, the widespread introduction of NFT by museums, the simplification and availability of technology is a matter of time. He suggests that the distribution of non-fungible tokens will be associated with the authentication, verification and maintenance of items in museum collections. The second direction will be digital publications and catalogs available to the general public. The next one might be to promote private collections and increase their market value through limited digital release or fractional ownership of digital art.
Earlier, cult artist Damien Hirst announced that he would destroy the original NFT paintings the day before the opening of the London Frieze Art Fair, one of the world’s largest exhibitions of contemporary art.
