You can now use cryptocurrency to buy art in London 20668
News
Priyanka Babu
Aug 9, 2018 at 6:30 AM

With cryptoverse growing increasingly popular, people are being more crypto friendly and eyeing cryptocurrencies as favorable investments. House of Fine Art [HOFA], Mayfair, London has put up its entire art collection for purchase with cryptocurrency. They claim to be the first art sale exchanging their entire collection for cryptocurrency. The owners of the gallery said they wanted to revolutionize the buying and selling of art in the modern world.

The art gallery reportedly received demands for selling art in exchange for Bitcoin. The founder of the art gallery, Elio D’Anna said, “We knew straight away that this was an opportunity too good to pass by. At the moment, digital currencies are becoming commonplace among a wide array of savvy consumers, providing a seamless, and cost-effective method to exchange value globally.”

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Gallery prices start at £4,000. The collection includes works by French sculptor Richard Orlinski and American Hunt Slonem, a neo-expressionist painter. The art gallery also had sculptures of Stefano Bombardieri, an Italian sculptor which cost around  £250,000.

A  £4.2 million artwork by Andy Warhol named 14 Small Electric Chairs, was to be auctioned online in exchange for cryptocurrency. Earlier this year Dadiani art gallery, Mayfair announced that they will be hosting first art sale in the world to sell art solely utilizing cryptocurrency. In 2017 Dadiani Art Gallery became the first gallery to accept cryptocurrencies as a mode of payment for buying their artwork.

Eleesa Dadiani, founder of Dadiani Syndicate said, "By conducting the sale of this exhibition exclusively in cryptocurrency, we symbolically look forward to a brighter, more decentralized future in which individuals have greater autonomy and entrenched state power can be overcome.”

Image via Shutterstock

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