Todd Morley, who co-founded investment firm Guggenheim Partners LLC in 1999, revealed plans to build the world’s largest NFT museum during an interview with Bloomberg Markets: The Close.
An NFT (non-fungible token) is a digital asset that represents real-world objects, such as photos, videos and digital art. The NFT museum will be located within a skyscraper close to the Museum of Modern Art (MoMA).
The building is being developed by JDS Development Group and was designed by SHoP Architects. “It’s the perfect place, sort of a symbol of technology, to announce new technology,” said Morley (via Artnet News).
“This one building will be able to connect – sort of like a ham radio operator – everybody in New York City to wireless trading, wireless crypto trading, wireless communication.”
He also revealed plans to “create the world’s largest NFT museum”, adding: “So that’s kind of the utility function inside the building rather than just owning the bricks and mortar, so to speak.”
On building a physical museum for digital art, Morley said: “Depends on what you mean by museum, right? The Guggenheim Museum has had phenomenal success at becoming a real estate development tool using culture to develop assets and convene people.”
NFT museum overlooking Central Park
“So we think there’s that,” he added. “But we are also very interested in global infrastructure – technology-driven infrastructure.
“So it gives us the ability to not only allow investment into those areas but to sort of capture the culture of those areas. So it becomes a global ambassador, a digital ambassador, if you will – so why not centrally located in the tallest building in New York?”
Metapurse, an NFT fund started by Metakovan, also plans to build a virtual museum to display Beeple’s digital work of art, ‘Everydays: The First 5,000 Days’.
Image: 111 West 57th Street