$70 Million in Art at MoMA to Be Sold to Extend Museum’s Digital Reach

The Wall Street Journal reported on Tuesday that MoMA, the Museum of Modern Art in New York, plans to sell images in its William S. Paley art collection that includes Pablo Picasso’s work, but did not specify which images would be sold. Preliminary details have been confirmed that 29 of the 81 images will be sold later this year.

The William S. Paley collection has been owned by MoMA since 1990. MoMA is a landmark in New York because it’s located in the heart of Manhattan. It is also regarded as one of the most influential modern museums in the world.

The sale aims to raise more than $70 million to buy NFT on display. Museum manager Glenn Lowry said the main intent was to make the museum more digitally accessible, perhaps to create its own streams. is another way for people to reach.

Pierre-Auguste Renoir’s 1905 still life of strawberries will be included in the sale.
Pierre-Auguste Renoir’s 1905 still life of strawberries will be included in the sale.

Non-Museum NFT Gallery It has grown in popularity a lot since last year. Both emerging in the heart of New York, various virtual exhibits, and bringing famous NFTs such as the CryptoPunk Bored Ape to a real museum. But some museums have difficulty adopting NFT because it was initially bought at a high price to generate more revenue from the audience. But when the price falls in the market, it becomes a loss instead. Of course, MoMA is not the first museum and will be another place to adopt NFT.

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