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ICA Miami announces launch of its own NFT platform

Category: Technology

After becoming one of the first museums to acquire an NFT for its collection in 2021, the Institute of Contemporary Art, Miami, announced it will launch its own platform for selling NFTs to coincide with its annual fundraising gala. Amid growing concerns about the environmental sustainability of blockchain technology, the ICA chose to build its platform on Palm, a service that reports to be 99 percent more energy-efficient than comparable systems.

The Institute of Contemporary Art, Miami (ICA Miami) has become the first museum in the US to launch its own NFT platform , in partnership with Palm and LiveArtX. Last year, ICA Miami acquired 'CryptoPunk 5293', part of an NFT collection made by Larva Labs on the Ethereum blockchain, making it one of the first museums to have an NFT in its collection.

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