Museums and art galleries are in quest of ways to ride the NFT wave

The London gallery HOFA will exhibit virtual artworks such as Vladinsky's 'Observer NFT' (2021) at the 'Matter & Form NFT' exhibition. Photo: AFP

As NFT artworks continue to rise in auction, museums and galleries are wondering how to take advantage of the growing interest in non-fungible tokens.

For most, it's proving to be a logistical challenge, at least for now. The art world is having its "NFT" period. If the phase really took off with the record sale of Beeple's Everydays: The First 5,000 Days (for US$69.3mil, RM287mil), auction houses and art galleries are rivalling one another with initiatives to get in on in this booming market.