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CryptoPunks becomes an official collection of the Museum of Modern Art (MoMA) in New York
The Museum of Modern Art (MoMA) in New York has announced that CryptoPunks will be included in its permanent collection, providing a “museum-grade” endorsement for NFTs.
(Background: Buying CryptoPunks as reserves, unexpectedly PunkStrategy really took off)
(Additional context: Yuga Labs sold CryptoPunks! Infinite Node Foundation acquired the intellectual property rights: continuing the cyberpunk spirit)
MoMA has officially announced that the NFT avatar series CryptoPunks has been added to its permanent collection. It is now listed on the museum’s collection page. This milestone marks a significant step for traditional art institutions engaging with blockchain assets after the NFT bubble burst.
These CryptoPunks were donated by multiple private collectors, and their inclusion signifies recognition by the museum. The specific Punk IDs are:
(NFT? Feeling a bit nostalgic
CryptoPunks was minted by Larva Labs in 2017, with 10,000 24×24 pixel avatars serving as the origin of PFPs.
NFT market capitalization has fallen 66% from its peak to about $3.1 billion; CryptoPunks floor price remains at 29.9 ETH (approximately $96,900). Although below the $23.7 million record set by #5822 in 2022, maintaining its status as a “blue-chip” NFT demonstrates that its symbolic value has penetrated from the crypto community into the art world’s recognition.
The on-chain immutable ownership records solve the longstanding provenance verification issues in traditional art. Coupled with the Trump administration’s relaxed regulations, reducing compliance costs for institutions holding crypto assets, museums are now able to openly participate.
Regardless of when MoMA exhibits CryptoPunks, they are already locked into mainstream narratives. Market attention is no longer on the sale prices of small images but on the cultural value of blockchain and cryptocurrency development, which is highly commendable.