Museums, individuals and metaverse initiatives have used nonfungible tokens (NFTs) as 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 on the Decentraland metaverse platform for its art week in August.

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.

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?

Cointelegraph spoke with Hussein Hallak, founder and CEO of Momentable — a company servicing museums to help with NFT integration — to understand what an NFTized future looks like for the art world.

Source : news.google.com/__i/rss/rd/articles/CBMiVWh0dHBzOi8vY29pbnRlbGVncmFwaC5jb20vbmV3cy93aWxsLW11c2V1bXMtb2YtdGhlLWZ1dHVyZS1qdXN0LWJlLWdpYW50LW5mdC1nYWxsZXJpZXPSAQA?oc=5 undefined - October 21, 2022