From artnet.com: "‘This Is a New Renaissance:’ Why the Pseudonymous Digital Art Collector Cozomo de’ Medici Just Gave a Major NFT Collection to LACMA...The Los Angeles County Museum of Art has just announced a major donation, courtesy of one Cozomo de’ Medici, an anonymous NFT collector. The museum touts the gift of 22 digital artworks by 13 international artists, almost half of whom are women, as the first donation of a collection of NFTs to a U.S. museum."
One challenge the museum now faces is properly displaying these works of art, "LACMA has yet to announce plans to display its new NFT holdings, which will require specialized screens (one barrier to entry for first-time collectors).“There are some great companies that are that are building some cool frames, but they’re very expensive right now—running from $10,000 at the smallest, to $40,000 for slightly larger displays, which is just too much for mainstream adoption,” de’ Medici said."
This will most likely be the first of many major institutions recognizing digital art as worthy of their collections, if they haven't already. One major advantage to accepting art recorded on the blockchain is the ease and accebility of the works provenance (it's record of ownership). "“The beauty of this digital world is everything is on chain and online. You can go and see the mint dates, and the provenance is all recorded. You can see other works from the artists you are interested in, who owns them, where they’ve been, and the prices—versus the contemporary art world, where it’s really tough to get access to that data as an outsider,” he said."