May 28, 2021

Making the Most of NFTs Without Pressing “Mint”

by Brett Renfer, Creative Director

by Hillary Cleary, Project Coordinator

Making the Most of NFTs Without Pressing “Mint”

Cadets Brett Renfer and Hillary Cleary wondered: Can museums benefit from NFT mania, without actually minting any NFTs themselves? They shared their 3 biggest takeaways on MuseumNext. Read the full post here.

NFTs are taking over. Maybe. You have seen the headlines for months: What are NFTs)? Are they the future? Are they humanity’s undoing? Is everyone getting rich but me? Should artists, galleries, and museums cash in?

We have come to the same conclusion as many in our field: NFTs have some serious environmental, economic, and ethical implications museums can’t ignore. But this is not another article about how good or bad NFTs are (but if you’re curious, here’s our research on that question). NFTs are driving a new wave of mass interest in art, culture, and collecting, so we can’t simply ignore them.

As makers of digital experiences in the cultural space, we wondered: Is it possible for museums to extract something of value from the exciting ideas around NFTs, without actually minting any themselves? What can museums learn from NFTs? Through our research, we landed on three takeaways from NFT mania that any museum should find useful.

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