Museums x NFTs The tech impact, powered by digital collectibles
For museums, NFTs and blockchain technology provide an attractive and sustainable model for the future that can be leveraged to increase revenue, engage audiences, and fund causes or projects. Our team of experts and cultural advocates are on hand to find your route to digital transformation. Get in touch and book a workshop to identify your needs today.Book a Workshop
What are NFTs?
An NFT, also known as a non-fungible token, is a unique digital asset that represents ownership or authenticity of a piece of artwork or collection owned, for example, by a museum. An NFT provides a unique digital representation of the artwork or collection and includes information about its provenance, authenticity, and ownership of the digital twin and/or real-life benefits. Once created, the museum NFT can be bought, sold, or traded. This allows collectors and enthusiasts to invest in and showcase their ownership of a limited-edition digital print of a piece of art or collection owned by the museum.
NFTs and digital collectibles for museums: an explanation
Digital collectibles enabled by NFTs are a vehicle for museums to do more with their existing assets. This can help to solve the conundrums your institution faces as it seeks to deliver on its mission. When deployed as a strategic addition to existing merchandise or membership offerings, digital transformation presents fresh new ways to generate revenue and enhance the bond between you and your audiences.
Now is the time to showcase your collections in new and exciting ways – even the 95% of works that aren’t on permanent display. Make exclusive, digital editions of pieces available to patrons.
NFTs – the future of art and collectibles?
The digital marketplace is growing, and fast. We leverage this and add an extra dimension to your institution’s existing activities. Maximize growth potential and build an engaged audience to benefit your museum with this strategy, that will allow you to capture more of the available revenue potential – and grow it even further.
As the market grows, so do opportunities to drive sustainability and innovation in museums. With our solutions, we can support you in your mission. Digital collectibles have the potential to increase net earned revenues by up to 10%. If engagement is your motivation, let’s turn 5% of your digital audience into engaged patrons.
Get in touch and find out how our NFT-enabled solution can work for you.
Art & collectibles NFTs market CAGR expected to grow 26% over the next 10 years
Digital artwork NFT-enablement in action today
Realize the potential and talk with our team today
Our team appreciates that digital collectibles and NFT-enabled solutions are a new step forward for museums. We also understand the constraints that hold cultural institutions back from achieving their missions. With our passion for art and tech expertise, we think our solution offers the best of both worlds for you and your audiences.
Get in touch and see how it can work.
Why do people buy digital collectibles?
The motivation for purchasing a digital collectible can be varied. In the art world, we believe the starting point is a buyer’s passion for art. However, there are other motivating factors – such as the desire to support a museum like yours. Or it’s the chance to be part of a broader community of like-minded patrons.
Each NFT involves real and defined sense of ownership for the collector. And by working with Nimi, we can explore various value-added ways for your museum to offer incremental benefits to that collector too, similar to the traditional membership perks and patron benefits that you already have.
How can digital collectibles work for museums?
An NFT-enabled solution can help your museum emerge from the traditional boundaries of revenue generation and audience engagement. It can mean more works from your collection can be celebrated at any given time. It can supplement your offline revenue streams. And it can rally patrons behind an important cause or project.
In every instance, we ensure digital collectibles align with your mission and maximize your long-term impact.
What are the potential disadvantages of NFTs?
Some museums and cultural institutions are hesitant or suspicious about the use of digital collectibles. For some, it’s about works as being unique, individual pieces of cultural heritage. There are also environmental concerns about the production of NFTs. By talking to us, however, we’ll help you understand how this can be a beneficial solution to your museum – one that is done safely, sensitively, and sustainably.
Does a museum need specialist resource?
No. We act as your tech partner and specialist advisor throughout the process. There is zero upfront cost and no need for any specialist internal resource to make it happen
Who is Nimi?
Our global team brings together decades of consulting and management experience. Above all, however, we are united by our passion for arts and culture. Our supporters include a worldwide group of distinguished investors, including the University of Chicago. Learn more about Nimi and our leadership team.