The Musée ds and Christie's NFTs are getting lost

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The Musée ds and Christie's NFTs are getting lost

Some 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 clung to a stalemate. The longtime benchmark, the Bored Ape Yacht Club, has lost two-thirds of its value since March, according to data from DeFiLlama.

NFTs seem to have lost their cachet in the culture, according to a report published by The New York Times. Gamers are hated and call them scams, and celebrities appear to have dropped NFTs like a fad well past its sell date.

As far as trading activity on Ethereum was concerned, DL News reported this week that around half of the NFT trading activity on the platform had been linked to wash trading, an unsavoury practice designed to pump the price of assets.

The Musée ds art in a different way.

Investors can keep the tokens in their cryptocurrency wallets and tap them for discounts on return visits to the museum, merchandise and meals in its cafés overlooking the Seine and the Louvre. The heritage tokens are hosted by Keru, a platform that operates on the public blockchain of Tezos.

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

The Cultural Department of Kyiv 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 launched an Ethereum-based metaverse, the Sandbox, where it offers NFTs within a virtual game. In February 2022, the Belvedere museum in Vienna published a collectible NFT of Gustav Klimt's masterwork.

Whitacre said he did not expect to see a surge in the value of the state's economy.

Despite their tarnished images, NFTs appear to still exist in the art industry, even if it is just leaning into a new type of marketing.