MCA Australia offers free entry in exchange for 'worthless' NFTs

Once the darling of the art world, at the height of the NFT boom in 2021, these digital assets traded at a combined volume of over $25 billion. But today, 95% of all NFT collections have a market cap of zero. Rather than let this ‘art’ go to waste, the Museum of Contemporary Art Australia (MCA Australia) is offering to trade them for entry over the final weeks of its landmark exhibition Data Dreams: Art & AI. “NFTs were a unique moment in the artworld – demonstrating how fast art, culture and digital technology moves,” said MCA Australia Director Suzanne Cotter. “While they may have have lost their financial value, it doesn’t mean they’re worthless. Data Dreams: Art and AI is an exhibition about exactly that tension - about what digital technologies promise us, and what they deliver. Accepting NFTs isn’t a gimmick – it’s a chance for art lovers to turn something that’s lost it’s value into something priceless – acces