The World’s First NFT Museum Opens in Seattle, USA As Popularity in the Digital Asset Spikes

Tuesday, May 03, 2022 at 4:20 PM by Sean Parker

The first ever permanent museum showcasing a new form of art, non-fungible tokens (NFTs), has opened in Seattle
A non-fungible token is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded
Types of NFT data units may be associated with digital files such as photos, videos, and audio with NFT artworks are fetching millions of dollars for artists

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Seattle in the United States is the location of the world's first non-fungible token (NFT) museum, with the aim to provide a space for artists to showcase their NFTs in a physical space for visitors to view the digital art.

The museum is also open to collectors to display the NFTs they own. The digital asset is built on blockchain technology and have become a new form of investment with many celebrities jumping on the bandwagon. Music superstars Justin Bieber and Eminem purchased Bored Ape Yacht Club NFTs.

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The World’s First NFT Museum Opens in Seattle, USA As Popularity in the Digital Asset Spikes — A visitor walks among the artwork on display during the opening weekend of the Seattle NFT Museum in Seattle, Washington. Image: Getty
Source: UGC

The museum is also hoping to educate the public on NFTs and has already hosted several exhibitions, according to Reuters.

The museum's co-founder Peter Hamilton says:

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"An NFT is really just a contract that signifies the ownership of an asset of some kind, these tokens... are basically a contract that says this serial number belongs to this piece of art, and if you own this token, you are the rightful owner."

NFTs are rare and possess bespoke characteristics, this has made them expensive. In 2021, 10 000 unique Bored Ape Yacht Club (BAYC) NFTs were created and quickly snapped up by celebrities, LifestyleAsia reports.

Alfa Romeo Tonale: This is the Italian armaker’s hybrid SUV, the 1st car to come with its own NFT

Alfa Romeo's new Tonale SUV is big news. Firstly, it grabs the headlines by becoming the first car to be sold with its non-fungible token (NFT). Based on blockchain technology and uniquely linked, Alfa says the Tonale NFT certifies the car upon purchase, then evolves to represent its use during the car’s life cycle, Briefly News reports.