LACMA Museum Receives Donation of 22 Top-Level NFTs, Including CryptoPunks, ArtBlocks
On February 14, 2023, the Los Angeles County Museum of Art (LACMA) announced that it received the first and largest donation of NFT art ever sent to an American museum.
According to LACMA’s statement, the donation of 22 digital artworks was made by collector Cozomo de’ Medici. The collection includes works by international artists from Brazil, Canada, China, England, Germany, Portugal and the United States.
Among the donated NFT artworks is CryptoPunk #3831, which in 2021 sold for more than $2 million. Additionally, the donation includes an Art Blocks NFT, a platform that generates artwork using AI through algorithms distributed on a blockchain.
Although the real identity of the donor is unknown, it is believed to be the artist and cryptocurrency enthusiast Snoop Doggwho, in addition to having several relevant NFTs such as Bored Apes Yacht Club, hinted on Twitter that he was the face behind the pseudonym Cozomo de’ Medici.
LACMA Museum wants to tell the story of NFT art
LACMA said their goal is “to assemble works that tell a representative story of the crypto art movement,” ranging from generative art, photography, videos and AI-generated portraits.
The received works date from 2017 to 2022, and reflect “a boom of artistic experimentation with web3 technologies such as blockchain that has been in the bud since the 2010s.”
According to LACMA, the museum expects to introduce digital works from artists John Gerrard, TGA, “Comjoo/er toy,” Erick Calderon, Jessica Wembley, and Peter Wu. In addition, the museum received a gift from Tom Sachs of his collectible series Rockel Factory and Lee Mullican’s ALMTEBB.
LACMA chief recognized Cozomo de’ Medici’s work
Michael Govan, executive director of LACMA, and director of the Wallis Annenberg, said artists have been incorporating technology into their works for decades, which has been “central to LACMA’s programming since the 6Os.”
He added that LACMA was one of the first art museums to support artists experimenting with blockchain technology in the creation of their works.
Govan thanked Cozomo de’ Medici for the donation, stating that in the future they hope to expand the diversity of their current collection to preserve new works created on the blockchain.
Cozomo de’ Medici stated on Twitter that he hopes this donation lays the groundwork for digital works to be exhibited alongside physical works by great artists such as Rembrandt or Picasso, promoting the crypto-art movement globally.
How blockchain technology is revolutionizing the art scene
The rise of blockchain technology has led to a revolution in the art scene. With blockchain, art collectors and artists can verify the authenticity of works and transfer ownership seamlessly. Furthermore, blockchain has opened up new possibilities for digital art that were previously impossible.
LACMA’s acquisition of this collection of NFT digital art is a testament to the growing importance of crypto art in our time. By collecting works that represent the crypto art movement, LACMA not only preserves the new forms of artistic expression, but the actions also serve to educate the public about the impact of blockchain on the art industry.
As the crypto art movement gains momentum, more museums and art institutions are expected to embrace it. This will create new opportunities for digital artists and collectors to showcase their works in regular art arenas and establish themselves as legitimate artists.
