New York's Museum of Modern Art is considering buying NFT-related art for $70 million

New York's Museum of Modern Art (MoMA) is considering buying NFTS with a portion of the proceeds from an auction of William S. Paley's art collection, Coindesk reported on September 14. Glenn Lowry, the museum's director, said the interim goal was to expand the museum's presence in digital art after the museum's attendance plummeted during the pandemic. The museum, which has a team that closely monitors the digital art market, is considering buying NFT-related digital art.