Commentary: From NFTs to long-overdue reckonings, 10 things that shaped the art world in 2021

Much happened during a year when museums and galleries began the slow process of reemerging.

century carved-stone temple-doorway lintel from the medieval city-state of Bhaktapur; and a magnificent 16th century wooden sculpture of5. Endowments Are Up

The litany of bad institutional news fomented by the brutal COVID-19 pandemic is long, but one unexpected development is auspicious. Art museum endowments have benefited mightily from a robust investment market. Museums, used to having their hands out to beg for funding, have been quiet about the windfall, but growth of 10%, 20%, even 40% has been recorded in what amounts to a

— from the Hammer Museum at the lower end to the Museum of Contemporary Art, San Diego, at the higher.In a panicked decision when the pandemic erupted and a financial crisis loomed in spring 2020, the Assn. of Art Museum Directors loosened restrictions on the use of income from art formally removed from museum collections and then sold.

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