{"id":502319,"date":"2022-10-20T13:51:51","date_gmt":"2022-10-20T10:51:51","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/will-museums-of-the-future-just-be-giant-nft-galleries\/"},"modified":"2022-10-20T13:51:51","modified_gmt":"2022-10-20T10:51:51","slug":"will-museums-of-the-future-just-be-giant-nft-galleries","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/will-museums-of-the-future-just-be-giant-nft-galleries\/","title":{"rendered":"# Will museums of the future just be giant NFT galleries?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bf3a6607d2\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bf3a6607d2\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/will-museums-of-the-future-just-be-giant-nft-galleries\/#%E2%80%9D_Will_museums_of_the_future_just_be_giant_NFT_galleries_%E2%80%9C\" >&#8221; Will museums of the future just be giant NFT galleries?   &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Will_museums_of_the_future_just_be_giant_NFT_galleries_%E2%80%9C\"><\/span>&#8221; Will museums of the future just be giant NFT galleries?   &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvODA3MDJiZjgtMmIxNC00ZDJlLThlM2UtZTEwZjA2MzIxNjY1LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4b69a2fe>Museums, individuals and metaverse initiatives have used\u00a0nonfungible tokens (NFTs)\u00a0as a new means for reinventing themselves before their fans. The family of Frida Kahlo unveiled never-before-seen art and personal artifacts of the artist at an exclusive event in Decentraland for its art week in August.<\/p>\n<p>In Belgium, the Royal Museum of Fine Arts Antwerp became the first European museum to tokenize a classic art masterpiece worth millions of euros. The Kharkiv Art Museum in Ukraine launched a new NFT collection with Binance to preserve their cultural heritage and raise funds amid the ongoing regional conflict.<\/p>\n<p>However, as everything becomes tokenized, questions arise. Will museums in the future just be giant NFT galleries with every piece of art having a digital counterpart? How does ownership really work in such a scenario?<\/p>\n<p>Cointelegraph spoke with Hussein Hallak, founder and CEO of Momentable a company servicing museums to help with NFT integration, to understand what an NFT-ized future looks like for the art world.<\/p>\n<p><strong><em><u>Related: <\/u><\/em><\/strong><strong><em>NFT pics are the funhouse mirror high-end art deserves<\/em><\/strong><\/p>\n<p>While digital art that is native to the Web3 space finds its place in virtual museums, traditional art and museums are taking on a layer of Web3. Thus, Hallak believes it&#8217;s \u201cinevitable\u201d for museums to eventually transform into a giant NFT gallery.\u00a0<\/p>\n<blockquote><p>\u201cWe believe everything will be an NFT, just like a serial number, for every product there will be an NFT.&#8221;<\/p><\/blockquote>\n<p>According to Hallak, it\u2019s just a matter of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> becoming easier to use in order to become ubiquitous. For now he predicts the most common use of NFTs by museums should be for proof and maintenance of items in their collections, second would be digital editions accessible to the public.\u00a0<\/p>\n<p>\u201cNFTs are an integral tech innovation museums can\u2019t afford to ignore if they want to step into the future,&#8221; Hallak says. &#8220;But they needs to be part of a larger strategic modernization roadmap.\u201d<\/p>\n<p>When asked if fractional ownership diminishes the value of physical precious heirlooms held by museums Hallak says it&#8217;s a fair question but the answer is no. Art just becomes more accessible.  <\/p>\n<p>He relates it to the value increase of a private company going public:<\/p>\n<blockquote><p>\u201cMaking art more accessible through fractionalized ownership or limited digital editions, will most likely drive interest, raise the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>reciation of the art and artist and eventually increase its value.\u201d<\/p><\/blockquote>\n<p>Ownership that comes with fracationalization is key to Web3. It is one of the defining characteristics, which differentiates it from the internet known before. <\/p>\n<p>In the case of museums and the art up for NFT auction, is it really ownership if the art is still under some type of custodianship or is it perceived ownership? <\/p>\n<p>Hallak perceives NFTs as a tool for supporting public art rather than a transfer of custodianship.\u00a0<\/p>\n<blockquote><p>\u201cA more likely [NFT] model is funding a public display of artworks and artifacts by creating several digital versions.\u201d<\/p><\/blockquote>\n<p>Over time NFTs will increasingly become an opportunity for museums to capitalize on their collections and curatorial prowess in a digitalize future, as seen with the aforementioned museum in Belgium.\u00a0<\/p>\n<p>A recent report valued the NFT market to be worth nearly $231 billion by 2030. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"nifty_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/will-museums-of-the-future-just-be-giant-nft-galleries\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Will museums of the future just be giant NFT galleries? &#8220; Museums, individuals and metaverse initiatives have used\u00a0nonfungible tokens (NFTs)\u00a0as a new means for reinventing themselves before their fans. The family of Frida Kahlo unveiled never-before-seen art and personal artifacts of the artist at an exclusive event in Decentraland for its art week in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":502320,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvODA3MDJiZjgtMmIxNC00ZDJlLThlM2UtZTEwZjA2MzIxNjY1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[95118,74355,116,55649],"class_list":["post-502319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-nft","tag-adoption","tag-art","tag-artists"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/502319","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=502319"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/502319\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/502320"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=502319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=502319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=502319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}