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Elizabeth Merritt

The Met Will Pay Museum Guards More Amid Covid-Related Shortages - The New York Times - 0 views

  • The wage increase comes as several museum employees said the morale of some guards had sunk because they felt worn out and undervalued while working in often difficult circumstances.
  • The Met’s main building on Fifth Avenue is now served by a staff of some 300 full-time guards versus the 404 that had been assigned there before the pandemic
  • Under the new wage agreement, existing guards who were being paid $15.51 an hour were given raises and are now being paid $17 an hour. District Council 37 said that average pay among guards at the museum was around $20 an hour.
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  • Nazzaro said he wished that the museum had used its website to list gallery closings in real time.
Elizabeth Merritt

The NFT Ecosystem Is a Complete Disaster - 0 views

  • Vignesh Sundaresan, a collector known as “MetaKovan” who purchased the $69 million Beeple NFT that touched off one of the earliest hype cycles around the digital assets. MetaKovan is the financier of Metapurse, a Singapore-based investment firm that earlier this year listed its mission as to "democratize access and ownership to artwork." Metapurse has bought 20 Beeple NFTs, four virtual museums, a soundtrack, and consolidated it all into an "NFT bundle" that offers fractionalized ownership through 10 million B20 tokens. Beeple, as it turns out, happens to be a business partner of MetaKovan and owns 2 percent of all B20 tokens, while MetaKovan owns another 59 percent.
  • a landmark October study published in Nature analyzing 6.1 million trades encompassing 4.7 million NFTs since 2017: the top ten percent of traders account for nearly 90 percent of all transactions, this group trades 97 percent of all NFTs at least once, and the greatest predictor of any NFT’s value isn’t its appearance but its previous price points.
Elizabeth Merritt

Can New York's imminent salary transparency law pierce the art world's smokescreen? - 0 views

  • Wage transparency laws are a trend in the liberal states of the US. Seven states have now passed laws requiring employers to list salary ranges in job postings.
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