MoMA selling art masterpieces to build its own digital art collection

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Hi HODLers,

Another good day for crypto mainstream adoption!

The William S. Paley Foundation decided to auction $70mn worth of art masterpieces in order to expand its MoMa digital footprint and maybe acquire some NFTs.

This is big news as I believe there are a great number of very good artists in the crypto world that should be more appreciated by the traditional art world.

I am also impressed by the bet taken by MoMA to invest big sum of money into this new art world.

Which masterpieces did they decide to sell?

  • a Rousseau,
  • a Renoir will be auctioned off,
  • “Guitar on a Table” from Picasso (worth $20mn+)
  • “Three Studies for a Portrait of Henrietta Moraes" from Francis Bacon

MoMA is developing a digital art strategy

MoMA may launch its own streaming channel, host virtual exhibits and video chats with creators, or collaborate with universities and course providers to offer online courses.

They also state that they may also purchase their first NFTs.

Even if MoMA does not currently own any NFT last November, they contributed metadata of its entire collection towards AI artist Refik Anadol’s exhibition/NFT project Unsupervised.

Source: MoMA to Sell $70 Million Art Collection, May Use Proceeds to Buy Digital Art and NFTs

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