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[NEWS] A Financier Plans to Open the ‘World’s Largest NFT Museum’ in a Skyscraper Looming Over Centr
May 27, 2021
Rendering of 111 West 57th Street. Courtesy JDS Development Group.
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. Interviewed by Bloomberg Markets: The
Close on May 24, Guggenheim Partners co-founder Todd Morley announced plans to
create the world’s biggest museum dedicated to NFTs, the digital art ownership
tokens that have exploded into the news in recent months. 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.
"Blockchain, DeFi, decentralized
currencies, all these things are a part of financial services already and so
communicating is obviously a big part of that...Overline Network has developed
a new way to decentralize wireless communication that can be used at a speed
that would allow even crypto mining," Morley told Bloomberg TV.
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The new attraction is set to be located
within a 1,428-foot-tall skyscraper located at 111 West 57th Street, just four
blocks from the Museum of Modern Art. The 84-floor building, also hyped as the
world’s “skinniest tower,” has been in development for years by JDS Development
Group, though its completion was pushed back due to the pandemic. Designed by
SHoP Architects, it is set to be clad in Art Deco-inspired terra cotta, glass,
and bronze ornament.
Recreation of Andy Warhol’s Amiga 1000 displaying one of the digital self portraits he made using the computer.
Photo courtesy the Warhol Museum, Pittsburgh.
NFTs, or non-fungible tokens, are digital
assets like images, video, or audio that are built on blockchain technology,
which makes them unique and non-exchangeable. Often, anyone online can still
view the items - but only one person can own them, making them popular among
collectors.The project is a joint venture between Morley's Overline and real
estate developer JDS Group, and is set to begin by the end of the year.
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.
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