As NFT art becomes more and more widely accepted by the art world, it stands to reason that new platforms and institutions will necessarily spring up in order to display and sell these digital items to audiences in novel ways. On Monday evening, Todd Morley, the co-founder of the investment firm Guggenheim Partners, told Bloomberg TV that he’s invested in the development of a blockchain network tower in New York City that will also house the world’s largest NFT museum. Incidentally, Morley, who’s also the chairman of the Overline Network blockchain project, also said that the tower will be New York’s tallest building.
As planned, in addition to providing a platform for the exhibition of innumerable NFTs, the tower would theoretically give anyone in New York the power to seamlessly access wireless crypto trading; the tower would also serve as a centralized hub for announcements regarding advancements in technology. Reportedly, the project is set to kick off by the end of the year.
“Overline itself has its own currency, and we can benefit from the usage of that currency, but as we move farther into the world of tokenized assets, that seemed like a fantasy to me,” Morley told Bloomberg TV. “That’s just an extension of securitized assets, where we allowed different institutions around the world to buy certain duration buckets of cashflow. The difference here is that you can buy the hard asset but because it’s digital, you can actually offer the utilization of an asset. So part of the building…is to create the world’s largest NFT museum, and that’s the utility function inside the building rather than just owning the bricks and mortar.”
Although it’s not yet clear whether this planned museum already has art world professionals or curators attached to the project, it’s evident that the developing marriage of fine art and cryptocurrency is set to literally reshape the New York City skyline.