The world’s first permanent non-fungible token (NFT) art museum has opened in Seattle, with the purpose of “lifting the curtain” on Blockchain-based digital art.
NFTs are a sort of digital asset that has lately grown in popularity. Recently, NFT artworks are sold for millions of dollars. The Seattle museum aims to educate the public about this relatively new market of NFTs.
“We really understood the significance of being able to gaze at this sort of work in a way that allows you to slow down and notice all the intricacies,” says Jennifer Wong, co-founder and curator of the Seattle NFT Museum.
Maksim Surguy, a local digital artist, attended the opening of the museum’s ‘Climate Conversation’ exhibition. His works are available as NFTs online, but can also be printed in real life.
“Previously, whether you developed a digital artwork or a physical artwork, there were a lot of restrictions on who could access the artwork, or how they could own it,” says Surguy, who works in the IT industry in Seattle, and began investigating crypto-based art a year-and-a-half ago.
NFTs are digital tokens that represent ownership of works of art and other valuable real-world items. A report says that the worldwide NFT industry is estimated to exceed $21 billion by 2022.
Elsewhere, Panama’s National Assembly has adopted a measure to regulate the usage and marketing of crypto assets. Experts have cautioned that it might tarnish Panama’s reputation as a location with little financial openness. An independent politician said the legislation is larger in scope than that approved by El Salvador last year.
According to the new law, Panamanians will now be able to use crypto assets as a form of payment for any civil or commercial transaction that is not forbidden by law in the nation.
The nation is on the European Union’s list of tax havens, and the law would not make it look more open, an analyst said.
He explained that Panama was…
