The Museum of Modern Art (MoMA) in New York has announced that it will add the CryptoPunks NFT avatar series to its permanent collection. The images are already listed on the collection's website. This announcement, made after the NFT bubble burst, is seen as a milestone in traditional art institutions formally engaging with blockchain assets.
This collection of CryptoPunks was donated by several private collectors, but its inclusion in MoMA's collection is a recognition of the institution's authority. The catalog numbers are as follows:
- Punk 4018
- Punk 2786
- Punk 5616
- Punk 5160
- Punk 3407
- Punk 7178
- Punk 74
- Punk 7899
NFTs? I kind of miss them.
CryptoPunks was minted by Larva Labs in 2017, with 10,000 24x24 pixel images as the source of PFP.
The NFT market capitalization has fallen 66% from its peak to approximately $3.1 billion; CryptoPunks' floor price remains at 29.9 ETH (approximately $96,900). While this is lower than the $23.7 million record set in 2022 (#5822), it maintains its status as a "blue-chip" NFT, demonstrating that its symbolic significance has penetrated from the crypto world to the art world.
The immutable ownership record on the blockchain solves the century-old problem of proving the provenance of traditional art. Furthermore, the Trump administration's deregulation, which reduced compliance costs for institutions holding crypto assets, has allowed museums to open their doors to the public.
Regardless of when MoMA exhibits them, CryptoPunks have been locked into the mainstream narrative. The market's focus has shifted from the price of small images to the cultural value of blockchain and cryptocurrency development, which is highly commendable.
