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CryptoPunks has become an official collection of the Museum of Modern Art (MoMA) in New York.
The Museum of Modern Art (MoMA) in New York has announced that it will include CryptoPunks in its collection, providing “museum-level” endorsement for NFTs. (Previous summary: Bought CryptoPunks as reserves, unexpectedly PunkStrategy really took off) (Background information: Yuga Labs sold CryptoPunks! Infinite Node Foundation acquired the intellectual property rights: will continue the spirit of cyberpunk.)
The Museum of Modern Art New York (MoMA) has announced the inclusion of the NFT avatar series CryptoPunks in its permanent collection. It has already been listed on the collection page. This announcement, made after the NFT bubble has burst, is seen as a milestone for traditional art institutions officially engaging with blockchain assets.
This batch of CryptoPunks was donated by multiple private collectors, but being included in the MoMA collection has been recognized by the museum. The numbers are as follows:
Is it an NFT? Feels a bit nostalgic.
CryptoPunks was minted by Larva Labs in 2017, with 10,000 24×24 pixel avatars being the source of PFP.
NFT market capitalization has fallen 66% from its peak to approximately $3.1 billion; the floor price of CryptoPunks remains at 29.9 ETH (approximately $96,900). Although it is below the 2022 record of $23.7 million for #5822, it retains its status as an “NFT blue chip,” indicating that its symbolic value has penetrated from the crypto sphere to recognition in the art world.
The on-chain immutable ownership record solves the long-standing provenance certification problem in traditional art. Additionally, with the Trump administration easing regulations and reducing compliance costs for institutions holding crypto assets, museums can now enter the market openly.
No matter when MoMA exhibits, CryptoPunks have been locked into the mainstream narrative. The market is no longer focused on the prices of small images, but on the cultural value of blockchain and cryptocurrency development, which is very commendable.