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The Center Pompidou, France’s leading modern art museum, aims to showcase the renowned digital artist NFT in its permanent exhibition this summer.

In an announcement Friday, the museum said it was preparing to showcase a collection of irreplaceable tokens created by 13 digital artists from around the world. The exhibit will include, among other things, his popular NFTs from the collection, such as his CryptoPunk #110 donated to the Center Pompidou and his Autoglyph #25.

“The Pompidou Center will acquire a series of works dealing with the relationship between blockchain and artistic creation, including the first NFT!” according to a rough translation of the museum’s tweet. It contains 18 projects by 200 French and international artists.”

In a press release announcing the donation of CryptoPunk NFTs to the museum, Xavier Rey, Director of the French National Museum of Modern Art, said: I got it The Pompidou Center is “pursuing an interest in digital arts in relation to blockchain,” Ray added.

“Web3 is a groundbreaking realm that artists have acquired to create original and daring works, and this collection reaffirms its support for artists as they conquer new means of expression that are the foundation of contemporary art. To do.”

Yuga Labs, the company behind popular NFT projects such as the Bored Ape Yacht Club and CryptoPunks, also previously donated CryptoPunk #305 to the Miami Museum of Contemporary Art at Art Basel 2022. globally in the future.

Yuga Labs co-founder Greg Solano says this is a “great moment for the web3 and NFT ecosystem” and how digital art is being embraced for its impact and contemporary relevance. It paves the way for a collective understanding of what

Hype for NFTs and Metaverse assets has dramatically increased over the past year amid a broader market downturn that has seen major cryptocurrencies such as Bitcoin and Ethereum lose nearly 70% of their value compared to all-time highs. It is worth noting that it has cooled.

Non-fungible token sale, according to Casinos En Ligne’s NFT expert saw By 2022, it will be 83% lower than the previous year. Additionally, NFT volumes plummeted by at least 83% across all markets, including art, games and collectibles.

The NFT space hit a record high in January 2022, reaching $2.8 billion in monthly revenue. However, that number dropped sharply by the beginning of the year following a series of bankruptcies and implosion that wiped nearly $2 trillion from the crypto market.

Earlier this month, The Defiance Digital Revolution ETF, the first-ever ETF focused on NFTs and metaverse assets, announced it would be closing by the end of February.The shares of the fund are 72% or more Since debut.

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