Selling works by Picasso and Renoir to buy NFTs? The funny project of the Museum of Modern Art in New York

NFTs continue to panic the counters: while the markets have dramatically collapsed and the big brands have been the main winners in recent weeks, here is another mainstream giant that could well embark on the Web3 adventure.

According Decrypt, the famous MoMa of New York would soon seek to sell for 70 million dollars of works of art, taken from its collections held on behalf of the William S. Paley Foundation. The representatives of the latter would have confirmed having given a mandate to Sotheby’s to manage this sale, the fruits of which should be used to establish the digital positioning of the Museum of Modern Art in New York within the new economy.

If the foundation’s final plans for this future windfall are not yet known, representatives of the MoMa expressly mention the possibility for the museum to buy its first NFTs, but also to develop the organization of virtual events. We learn from these few confidences that a team of dedicated experts is responsible for monitoring the NFT markets in order to identify the most promising artists.

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John R. Zepeda

I have extensive experience working as a content writer in the areas of cryptocurrencies and finance, where I create interesting pieces that both inform and engage their audiences.

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