Blockchain inter-operator Overline is building the world’s largest non-fungible token (NFT) museum.
The museum will be part of a blockchain network Overline is building into a New York City skyscraper at 111 West 57th Street. The project is a joint venture between Overline and building developer JSD Group. According to Overline chairman Todd Morley, the project will enable decentralized wireless communication across the city.
Morley also added that it “can be used anywhere at the speed that would allow even crypto mining.”
Utility of the NFT museum
Morley explains that “part of the building at 111 is to create the world’s largest NFT museum.” He says that this provides some utility for the building, rather than just the “bricks and mortar.” Additionally, he hopes “that Overline will be the progenitor of many projects that people can own.”
Because NFTs are inherently digital, some wonder what the purpose of the NFT museum is. To address this, Morley highlighted his experience as the Guggenheim Partners co-founder. He noted that the Guggenheim Museum has been able to facilitate many other things, besides being a site for art.
Specifically, Morley cited its “phenomenal success at becoming a real estate development tool, using culture to develop assets and convene people.”
Morley’s passion for blockchain
Throughout the interview, Morley continuously demonstrated his passion for the potential of blockchain projects. For Morley, the shift into blockchain-related projects, after a career in finance wasn’t too great a leap to make. “Blockchain, DeFi, decentralized currencies, all these things are a part of financial services already,” he said.
Morley added that blockchain technology has the capacity to correct much of what is ripe for disruption in traditional finance. He then highlighted such things as poorly executed monetary policy, and an analogue-based insurance industry. In his view, if a company lacks a technology strategy, they will go out of business.
Ultimately, he believes in blockchain’s ability to democratize access to investments. “Democratizing access to information and assets we think will unleash tremendous amounts of capital,” he concluded.