Dominic Kimani
The popular Los Angeles County Museum of Art (LACMA) has received a collection of non-fungible tokens donations from various digital collectible investors, which are estimated to be worth millions of dollars.
LACMA Art Museum Receives NFT Donations
In a February 13 announcement, the Los Angeles Art museum confirmed receiving a collection of non-fungible tokens and physical artwork donations potentially worth millions of dollars from notable collectors.
The art museum has received 22 tokenized digital artworks from the pseudonymous Cozomo de’ Medici, a renowned Crypto Twitter personality and NFT investor. The collection includes CryptoPunks #3831, which was last sold for $2.1 million worth of ETH in 2021.
1/ Announcing the first donation of on-chain art from a collector to a museum, and the largest digital fine art collection to enter a museum
22 works from The Cozomo de' Medici Collection have been added to the permanent collection of the Los Angeles County Museum of Art (LACMA) pic.twitter.com/6ePSznorrM
— Cozomo de’ Medici (@CozomoMedici) February 13, 2023
LACMA has also received more digital collectibles from Art Block, a popular platform that features artwork generated by algorithms deployed on a blockchain network. Art Blocks features artworks from renowned digital artists Dmitri Cherniak and Monica Rizzolli.
Moreover, LACMA has received more NFT collections from notable collectors, such as well-known photographer Justin Aversano and digital artists Yam Karkai, Claire Silver, and Pindar Van Arman.
LACMA Joins Centre Pompidou To Exhibit NFTs
The Los Angeles Art Museum joins a growing list of contemporary art museums that have begun to showcase non-fungible tokens in their art gallery. On Friday, Centre Pompidou also confirmed receiving some NFT donations.
The French modern art museum Centre Pompidou received CryptoPunk #110 from Yuga Labs, a digital asset incubation firm behind the famous Bored Ape Yacht Club, and an Autoglyphs NFT from digital asset firm Larva Labs.
In November 2022, Miami Modern Art Museum received a CryptoPunk NFT donation from Yuga Labs. At the time, Yuga Labs unveiled the Punks Legacy Project, an initiative to preserve the pop culture and history of Ethereum-powered pictures-for-proof (PFP) NFTs in art Museums.
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This article was written for Business 2 Community by Dominic Kimani.
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