NFT and Blockchain for Museums: The World’s Oldest Institutions Meet the Newest Technology

By Jordi Lippe-McGraw Jordi Lippe-McGraw has been verified by Muck Rack's editorial team
Published on March 30, 2022

Your first thought probably has nothing to do with technology when you think of museums. After all, the renowned destinations are some of the world’s oldest institutions. And despite being storied spaces, they’ve faced significant troubles recently due to COVID-19. In fact, when the pandemic hit, it was predicted that 15% of the world’s museums would be forced to close permanently – and by the spring of 2021, that number would reach 37%. But one company is changing that by implementing the use of new technology. 

Iconic Moments is the world’s first NFT marketplace and blockchain exclusively for museums and historical institutions. They’ve created a global solution that addresses today’s steep challenges facing the museum industry. To Iconic Moments, the future of historical institutions lies in unlocking the value of their existing collections and enabling them a simple, curated way to monetize rare and storied moments in history. And that is possible through NFTs. 

“The idea of applying the world’s newest emerging technology to one of the world’s oldest industries is exciting,” said Chris Cummings, CEO of Iconic Moments.

So, what are they doing exactly? Well, the company has rights agreements to over 5 million pieces of content, which includes 450,000 institutions like the National Broadcast Museum. Iconic Moments works directly with cultural heritage institutions to analyze their assets, identify the highest value items, and assemble them into “drops” of varying price structures. 

Once launched in Q2 of 2022, the company will release these limited-edition NFTs “inspired by artifacts from the vaults of the world’s top museums,” according to the website. Every purchase then helps support the buyer’s favorite cultural institution while protecting that historical moment on the blockchain. Plus, buyers might get surprises like a year-long membership to a museum, an invite to a VIP event, or a ticket. 

Iconic Moments has raised $2 million in investments to create the benchmark trusted digital marketplace for preserving, protecting, and sharing the most comprehensive collection of rare, valuable, and historic global moments. They are also currently holding partnerships with leading organizations worth over $30 billion with past clients, including Procter & Gamble, Porsche, The City of Nashville, and more.

This helps organizations preserve their past and showcase their legacy through an immersive experience with their core software. In short, you can buy iconic moments and save the world’s history.

“So much of NFT-Land is focused on the present and new content,” said Cummings. “And Iconic Moments wants to focus on the past and the incredible treasure troves that sit in the archives of collections around the world.”

The foresight to create such an opportunity has already been recognized by the United Nations. In February, Iconic Moments won a World Summit Award, making it the only company in the United States to receive this high honor. 

“Our mission at Iconic Moments is to enable museums and cultural institutions to engage a new generation of visitors digitally, evolve the museum experience, and create a more sustainable economic model for museums through eco-friendly NFTs and the Metaverse,” said Cummings at the time of the award. “Iconic allows museums to drive much-needed revenue through limited-edition NFTs without giving up ownership or governance of the world’s historical assets.” 

By Jordi Lippe-McGraw Jordi Lippe-McGraw has been verified by Muck Rack's editorial team

Jordi Lippe-McGraw is a News Columnist at Grit Daily. A multi-faceted NYC-based journalist, her work on topics from travel to finance have been featured in the New York Times, WSJ Magazine, TODAY, Conde Nast Traveler, and she has appeared on TODAY and MSNBC for her expertise. Jordi has also traveled to more than 30 countries on all 7 continents and is a certified coach teaching people how to leave the 9-to-5 behind.

Read more

More GD News