NFT and Museums – Interview with Serena Tabacchi by ANDREA CONCAS

    NFT and Museums – Interview with Serena Tabacchi of MoCDA

    of Andrea Concas

    Is Crypto Arte open to museum? How will museums react to the evolution of the NFT market? These and other questions are answered by Serena Tabacchi, Founder of MoCDA – Museum of Contemporary Digital Art in this interview by Andrea Concas

    Museums today are grappling with two major changes: the digitization process and the urgency to find new sustainable revenue streams.

    Until now, museums have harnessed the power of social media, virtual tours and live streams to attract visitors and recover what was lost during the pandemic – in Europe 75% of museums report an income loss of between € 1,000 and € 30,000. week also during the period of opening to the public.

    But there is another avenue that museums may not have considered: the phenomenon of Crypto Art and NFTs. In recent months, the demand for these goods has skyrocketed to such an extent that museums and institutions have not been left indifferent.

    These include MoCDA, Museum Of Contemporary Digital Art, whose founder, Serena Tabacchi, who in this interview by Andrea Concas reflects on the future of Crypto Art and the need for its museum creation.

    Will museums play a role for Crypto Art and what will it be?

    I really think so. Museums, as we lived them before COVID19, represent those places where we approach culture through art, the various historical sources and documents that collect the essence of a historical period or an artistic current to it closely related.

    The phenomenon of crypto art is part of our present and as such will find its space within the places of culture. Therefore museums will not be able to ignore this mass phenomenon that is depopulating among new collectors and artists, especially those who create digitally

    If auction houses and artists talk about crypto art, it will be normal to find information about this movement that arose as early as 2018 in the rooms of a museum, be it physical or virtual.

    In your experience, what will be the evolution of the Crypto Art market?

    Crypto art has already marked a strong change in the market trend, with a rapid adoption by a young, dynamic and attentive to new technologies audience. There is a real boom in the crypto art phenomenon, also known as Blockchain Art. In reality, both artists and collectors have always been looking for more information about the provenance, authenticity and traceability of a work of art. Some of these guarantees are provided by the blockchain technology, which allows “on chain” transactions that help both the collector and the artist to protect themselves against fake copyrights, sales in the secondary market and the management of copyright. the so-called royalties.

    However, we must not forget that behind the technology there are always people and that trust in an artist or the auction house must always be placed in the individuals or brands they represent.

    A few days ago the news came that one of the most famous digital artists such as Mike Winkelmann, aka Beeple, made his entry into the traditional art market with Everydays: The first 5000 days, sold at auction for over 69 million. dollars at Christie’s.

    Following Damien Hirst announced his intention to accept crypto payments for The Virtues, a series of limited editions in collaboration with HENI available for Hirst collectors also in Bitcoin or Ethereum. Definitely a rapidly expanding movement that is here to stay and continue to impress the traditional world of the art market.

    Furthermore, could there be a relationship between the world of Crypto Art and that of physicality?

    Certainly. Crypto art, by definition, lends itself mainly to digital art as it lives online and on-chain, but not for this a physical work of art, and therefore material, must be excluded from this evolution in digital.

    It is therefore important to understand how the physical work and its digital doppelganger are connected, and to use blockchain technology for all those handovers between the artist, the collector and the various entities such as galleries and museums that participate in the management and maintenance of A work of art.

    Photo Credits: Mark Constantine Inducil – Severe Surrealistic Hallucinations

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