The Museum of Crypto Art has big plans in the works, including a new governance and utility token. The Museum is a metaverse organization dedicated to showcasing excellence in NFT art. Their new MOCA token will help guide future acquisitions and curation. At the same time, they hope to increase the pool of works they support.
The new MOCA token is based on the Polygon network. It will be used to vote on which pieces are added to the Museum’s future exhibits. It will also allow members to curate assets and will help establish part of a $1.5M fund.
Growing the Museum of Crypto Art
The Museum’s ultimate goal is to continue growing its collection. 50% of the MOCA tokens will be used to acquire new works. Collectors can apply to sell artwork to the Museum, and after several rounds of reviews, approved pieces will be appraised. Reviews will be done by two committees artists and collectors, with an eye toward merit. The appraisal will be done by Nonfungible.com.
The Museum has an “explicit obligation” to never sell the works they accept. At the moment, that rule is idealistic, but will soon be coded into the Museum’s DAO. The objective of the MOCA token is to help govern the Museum, not be another speculative currency being traded for profit.
Recording the history of the crypto art movement
One of the Museum’s central missions is to be the definitive record of the history of crypto art, almost since its inception. By finding new ways to build and expand upon its base, it hopes to be a time capsule into this moment in time. The crypto art world is constantly changing, and changing rapidly, making it hard to remember what was notable last week, let alone last year.
If the Museum’s MOCA plans work the way they hope, there should be plenty of room for the vast future of NFT art on its virtual walls, well into the future.