Italy’s 11 [HH] Art Gallery is one of the first galleries that allows—and even encourages—collectors to pay using cryptocurrencies.
Though the art world may imagine itself, perhaps flatteringly, at the forefront of culture, when it comes to embracing new technologies, the industry often opts for a more quill-and-ink model than any new-fangled wizardry.
In recent years, however, many have recognized the legitimacy of cryptocurrencies and blockchain technologies, but while thought-provoking talks have been hosted and token masterworks have been purchased with the novel currencies, these technologies remain far from commonplace today. Reasons for the hesitation are numerous: cryptocurrencies are known to be notoriously mercurial—valuable one day, worthless the next—and remain opaque, both in value and use, to many. Another possible drawback? The blockchain technologies that undergird cryptocurrency transactions are public, perhaps allowing too much transparency for some.
Still, some are leading the way for the industry. Among them is Stefania Minutaglio, art dealer and head of 11 [HH] Art Gallery based in Rome and Miami, one of the few dealers to have embraced cryptocurrency.
To read full article, click here.
