CryptoPunks NFT Lands in Major Art Museum

[RSRS]

A non-fungible token (NFT) has landed in a museum. The CryptoPunk, from a popular and expensive collection of pixelated characters, was given to Miami’s Institute of Contemporary Art (ICA) by trustee Eduardo Burillo.

According to ICA, it's the "first NFT to enter a major art museum collection."

NFTs are unique digital tokens, typically minted and stored on the Ethereum blockchain. They can represent just about anything—such as artwork, audio, or video content—and have proven to be extremely lucrative: In the first half of this year alone, $2.5 billion-worth of NFTs sold, according to DappRadar.

ICA Miami is the first major art museum to acquire a #CryptoPunk, through a major gift from museum trustee Eduardo Burillo! 🎉 👾 @LarvaLabs

Read on to learn more about the work, CryptoPunk 5293, which will be on view at ICA Miami this summer.https://t.co/MZbl7ZlaUk

— ICA Miami (@icamiami) July 8, 2021

CryptoPunks were created back in 2018, long before demand for NFTs hit fever pitch. They are a collection of 10,000 unique 24-by-24 pixelated headshots. And people love them: They were plastered around Miami by an artist in a month-long exhibition back in April and have sold for millions of dollars.

Sourch