Among the large pool of NFTs rising in the collectible market, an entire digital museum is now for sale.
The Museum of Digital Life (MoDaL) is a self-contained “metaverse” (or an interactive virtual world) created by XR studio Delta Reality. To put it simply, it is an NFT packed with NFTs.
The virtual museum holds 12 digital art pieces and features everything from 2D videos and images to 3D interactive objects and experiences. MoDaL is an ever-evolving space. The museum plans to flesh out new works of art, animations, and experiences with each new season. MoDaL also plans to add new floors and dimensions over time.
Click, Buy, and Own
MoDaL’s starting bid is at $32,340.25.
Once purchased, the owners would have access to the museum’s codes, files, and assets. The owners could invite guests free of charge or sell virtual tickets. They could also look around and interact with other guests; however, they would not be able to change or add anything to the museum. Likewise, the owners would not be able to sell whatever digital art is featured in the museum. To do so, the owners must directly contact Delta Reality.
According to Delta Reality, all decisions would be discussed between Delta Reality’s team and the museum’s owner. However, if the owner trades their creative control, they won’t need to hustle with collecting the museum’s artworks. Finally, whatever sales are made at the museum would be used for upkeep and future acquisitions.
Art + Tech= Museum
The museum was created by a collective of artists, engineers, and mathematicians. Thus, the museum is a blend between the arts and sciences.
According to Delta Reality’s founder Darian Skaria, the company was inspired by today’s fascination (or notoriety) toward NFTs.
“Digital art and NFTs have an enormous undiscovered potential, so in creating MoDaL, we wanted to show that by pushing the limits of both technology and artistic expression… Our goal was to show just how vast the scope of digital art is. That is also why we created it as an NFT of MoDaL, to make sure it has a life of its own and grows with every change of hands.”
To NFT and Beyond
Although MoDaL isn’t the first virtual NFT building we’ve seen, the chance to own a digital museum is.
The opportunities for NFTs are endless. For example, agencies like Republic Real Estate, a real-life firm, are now selling virtual worlds to investors, while places like “Decentraland”– a virtual world with its own economy, currency, and social events– are selling digital land parcels valued at more than $3,000.
Gauthier Zuppinger, chief operating officer at NonFungible, explains the appeal of these NFTs stems from a “fear of missing out.” How investors explain this phenomenon is, over time, the price of a digital building or parcel of land may double in value.
Critics are skeptical, drawing harsh criticism. This rage is justified in some regards. According to Input Magazine, NFTs have been vulnerable to scammers. Yet, the upsides of NFTs have allowed meme icons to profit off of their internet fame, and some vendors are using NFTs as a way to fundraise for at-risk communities.
While MoDaL looks to grow and evolve over time, we can only expect NFTs to do the same.
