Guggenheim Partners co-founder Todd Morley told Bloomberg Markets: The Close about a joint venture between JDS Development Group, the developer of 111 West 57th Street on Billionaire's Row, and his crypto company, Overline, to create the world’s biggest NFT museum.

Morley said of 111 West 57th, “It’s the perfect place, sort of a symbol of technology, to announce new technology. This one building will be able to connect—sort of like a ham radio operator—everybody in New York City to wireless trading, wireless crypto trading, wireless communication.”

Although Morley repeatedly referred to the building as the tallest in the city, it stands at 1,428 feet, which will make it the third tallest building in New York, after One World Trade and Central Park Tower, once it is completed this year. 

Located just four blocks from MoMA, Morley hopes the new museum will be “a very, very positive development for the world.”

When Bloomberg Markets host Caroline Hyde asked Morley why digital art needed a physical museum, he replied, “It depends on what you mean by museum” and then went on to explain how the Guggenheim Museum has been so successful as a real estate development tool. 

Morley also said he was very interested in global infrastructure and viewed this museum as a “global ambassador."

The overly bullish Morley concluded, “The utility function, the way to connect people, the way to create new levels of access, is really spectacular.”