Bitcoin gallery and art chain, is this the "new" when it comes to marketing our art. Here's a fascinating article worth reading from Art Net News about a stunning 1.3 million dollar sale using cryptocurrency ....and it's an online gallery.
I think it's more exciting to be at the beginning of innovation than the end. It's a very efficient marketing system, a business model that will change the traditional bricks and mortar (B&M) gallery system. And more importantly perhaps drive corrupt, greedy governments nuts over anonymity! I place art akin to securities and the stock market. Each has a perceived valve and fluctuates with the free market.
Here are some of the benefits:
- Art is shipped when sold, directly to buyer, buyer pays shipping including return shipping.
- Lower selling fees - traditional galleries have heavy overheads to support. Beside the fact, there are not enough (B&M) to support the industry!
- Stronger representation to the global public with flexible currency exchanges.
- Global shippers are plentiful.
- The most important thing here would be good digital images. Something we already do on our websites. Websites can be linked....something traditional B&M would never do....ever.
- In many respects art does sell itself. This system creates a simple agent/portal to complete the transaction. Amazon has proved this part works well!
- Current art websites allow single imaging without interference from the next....a focus, a single wall to shine and be a star. If you think about this, B&M fail miserably at this .
- The online gallery gives an equal footing to each artist. The market will determine success or failure more equally.
- Art Chain ### number (like a social security number) gives each piece of art provenance till the end. However if you loose the registry number its gone forever.... The number can not be retrieved nor can the same piece be re-register. Read this link
- No physically consigned work. Galleries using our money, our resources to fill their walls with free inventory!
- No shipping costs or retrieval costs or gallery change outs. The work leaves our hands when we sell it and not before.
- No lackluster presentations from galleries with too little space and poor sales staff or limited traffic or operating funds.
- No galleries representing too many artists and fail.
This was my pros and cons list to understanding the advantages of blockchain and cryptocurrency as an artist. No question there is a lot to absorb before jumping into anything new. So far I have no found serious negative other than market fluctuation.
BTW, Bitcoin Gallery linked to my website.......:=)
From an artists standpoint..... whats not to like. The question on my mind.......finding the downside?