The Musée ds, Christie's, The NFT craze

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The Musée ds, Christie's, The NFT craze

Few could challenge that the Musée ds and Christie's, the luxury auction houses, piled into the NFT craze as a means of connecting with young people, especially those in the tech industry.

Now the NFT market has become a maze. The long-standing benchmark, Bored Ape Yacht Club, has lost two-thirds of its value since March, according to data from DeFiLlama.

NFTs have lost their cachet in the culture, he said. Gamers hate them and call them scams, and celebrities appear to have dropped NFTs like a fad well past its sell-out date.

If that isn't enough, DL News reported this week that around half of the NFT trading activity on Ethereum was linked to wash trading, an unsavoury practice designed to pump the price of assets.

The Musée ds art in a different way.

The tokens are stored in their crypto wallets and can be used for discounts on return visits to the museum, merchandise and meals in its cafés overlooking the Seine and the Louvre. The so-called heritage tokens are hosted on Keru, a platform that is based on the Tezos public blockchain.

Constance de Marliave, the manager of Musée ds development and international projects, told DL News.

Kyiv's Cultural Department and National Taras Shevchenko Museum use blockchain and augmented reality to exhibit Ukrainian art while Russia's war continues, with access to culture closed.

In July, the British Museum entered an Ethereum-based metaverse, the Sandbox, where it offers NFTs within a virtual game. In February 2022, the Belvedere museum in Vienna released a collectible NFT from Gustav Klimt's masterwork.

Whitacre said he is proud to be the president of the United States of America.

Despite their tarnished images, NFTs are still popular in the art industry, even if it's just evolving into a new type of marketing.