fbpx

Institute of Contemporary Art, Miami Receives Digital Art Donation

Investors aren’t the only ones interested in using digital products as a viable form of value. Art collectors have also begun stepping into the world of digital assets, with the Institute of Contemporary Art, Miami recently receiving a donation to acquire an NFT, also known as a non-fungible token.

NFTs consist of a unit of data stored on a blockchain just like cryptocurrency, with the blockchain certifying that the digital asset is unique. They can include photos, videos, audio and other forms of digital files, including artwork.

The NFT ICA Miami received was CryptoPunk 5293, which museum trustee Eduardo Burillo donated. The NFT will be on display at the museum this summer. It is one of 10,000 unique pixelated icons created in 2017 by the collective Larva Labs and was one of the earliest NFTs offered for exchange on the Ethereum blockchain.

“The CryptoPunks represent innovation in art, identity and cultural [achievement],” Burillo says. “I am so pleased to support experimentation in ICA Miami’s collection by contributing an important work that captures contemporary discourse and the evolution of artistic practice.”

The CryptoPunk series drew inspiration from the British punk rock culture scene and were designed to appear as “misfits and non-conformists.” CryptoPunk 5293 is one of the 3,840 female punk versions with purple lipstick, a mole and frumpy hair accentuating its characteristics. The most recent offer for the NFT was $123,527.

“Larva Labs challenged and revolutionized our understanding of the meaning of art objects and ownership when they pioneered the creation of some of the first-ever NFTs in 2017,” says ICA Miami Artistic Director Alex Gartenfeld. “In doing so, they helped to launch a ‘cryptoart’ movement that is emblematic of the ways that our digital and physical worlds are merging and becoming inextricably intertwined—influencing contemporary art and culture in a myriad of ways.”

For more information, visit  Icamiami.org.

You May Also Like

Museum of Discovery & Science Launches Voyage to the Deep Exhibit

All MODS traveling exhibits are presented by Joe DiMaggio Children’s Hospital, one of South Florida’s leading pediatric hospitals.

Arlo Wynwood Embraces Black History Month With Gallery Opening  

Two Afro-Caribbean female artists will be featured.

South Florida’s Major Haitian Art Exhibit on Display at NSU Art Museum

The work highlights 27 Haitian artists illuminating facets of Haiti’s political history and creative abundance.

Waldorf Astoria Hotel & Residences Miami Hosts Digital Art Event

The building is set to become Miami’s first supertall tower.

Other Posts

Annual Florida Renaissance Festival Returns to Quiet Waters Park in Deerfield Beach

Children between the ages of 6 and 11, as well as Girl Scouts and Boy Scouts under 18 wearing their uniforms or troop t-shirts, are allowed to enter for free during opening weekend.

5 for February

South Florida offers a plethora of activities for residents to experience this month.

Hallandale Beach Hosts Celebrity Chef Dinner and Food & Groove Events

The outings are part of the South Beach Wine & Food Festival.

Miami International Boat Show’s Return Approaches

Tickets are available to purchase for the upcoming exhibition on boating and yachting.