- The Los Angeles County Museum of Art (LACMA) recently announced its acquisition of a collection of Non-Fungible Tokens (NFTs) that includes digital art from the popular Cryptopunk and Art Blocks platforms.
- The move marks an important milestone in the institutional recognition of NFTs and the blockchain technology that underpins them.
NFTs are unique digital assets that use blockchain technology to certify ownership and authenticity. They have gained significant attention in recent years, particularly in the art world, as they allow artists to sell their digital creations as one-of-a-kind, valuable items, which collectors can own and trade in the same way they would physical art.
LACMA’s new NFT collection features 10 works by Cryptopunk, a platform that sells pixelated images of unique and rare characters, and 11 works from Art Blocks, a platform that enables artists to create generative art that evolves over time. The acquisition includes pieces from notable artists in the NFT space, such as Pak, XCOPY, and Fewocious.
The collection was donated to the museum by a group of…