Exploring the potential for museums, art places and all kinds of collections
Museums began to increase their online offering as COVID-19 aggravated the poor financial health of cultural heritage institutions and increased the need for a digital cultural offer.
For museums the main applications of NFTs are related to the digital representation of their physical artworks and the many purposes for which the immutable digital ledger and the smart contract option can be used.
How can museums apply NFTs?
Digital representation of physical art works
Immutable record of authenticity and provenance
Digital objects as dividable immaterial economic assets
Limitations of working with NFTS
Scalability
Governance
Security
Guides
Future research avenues
Barriers to overcome
How to preserve and curate digital museum objects; deal with dematerialisation, reproducibility and obsolescence
How to relate the blockchain listing to the digital artwork in a standardized fashion
Transitions from Proof-of-work to Proof-of-stake is still the best long-term solution but when will it really happen?
How will the museum’s objective, reputation and funding be exposed to technology risks
Thinking beyond the monetary
Museums as institutions that issue tamper-resistant degree/course accredited certificates
Curated experiences in the metaverse led by museum’s effort to contribute to the conversation of what is art in society