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Paris (AFP) – NFTs, the tokens of the crypto world linked to digital artworks, have been granted a show at the Pompidou Centre in Paris, despite an almost total collapse in their price and cultural cachet.
The Pompidou, a popular attraction in the Marais district of the French capital, has opened the exhibition in its minimalist halls dedicated to NFTs which could give the digital art form a much-needed lift.
Blockbuster multimillion-dollar sales helped fuel publicity in 2021, and prices soared amid a lack of regulation and general confusion over what the digital tokens were.
But the value of NFT transactions fell 94 percent between 2021 and 2022, from $233 million to $14 million, according to French analytics firm Artprice.
The organisers of the event at the Pompidou, the first European gallery to start a collection of NFT art, are more keen to talk about the art than the economics.
“These artists get a place in the history of art…