A few entertainment museums are climbing aboad the non-fungible tokens (NFT) train, using their images as a fundraising tool.
Hammered financially by the drop in attendance during the pandemic, such venues as The Universal Hip-Hop Museum, the Museum of Broadcast Communications, the Asbury Park African American Music Project, and the Women’s Basketball Hall of Fame are leveraging their collections through a company called Iconic Moments.
Iconic Moments specializes in creating an NFT marketplace and blockchain exclusively for museums and historical institutions. The company now has more than five million pieces of content, and has raised $2 million in investments to create a marketplace for preserving, protecting, and sharing a collection of rare, valuable, and historic global moments.
“The idea of applying the world’s newest emerging technology to one of the world’s oldest industries is exciting,” says Chris Cummings, CEO of Iconic Moments. “So much of NFT-Land is focused on the present and new content, and Iconic Moments wants to focus on the past and the incredible treasure troves that sit in the archives of collections around the world.”
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.