Learn more about the connections between cryptocurrency, the art market, luxury market.
‘It Provides a Competitive Advantage’: Why Dealer Stefania Minutaglio Is Embracing Cryptocurrency and Blockchain Technology
11 [HELLHEAVEN] DEC 21 2020 on ARTNET
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.
How Blockchain and Cryptocurrency Changed This Art Gallerist’s Business For The Better
11 [HELLHEAVEN] OCT 28, 2020 on WIDEWALLS
In June 2020, the blockchain-based luxury asset ecosystem Idoneus made headlines when they bought a work of art using their native cryptocurrency, the IDON token. The purchase of the artwork, Pablo Picasso’s Danse du ventre devant homme impassible, happened before the IDON Tokens entered public exchange, proving the level of trust that the seller had in Idoneus. Perhaps it’s more about the unwillingness to give the art market the much-needed transparency, which currently works in favor of its top players. But aside from that, there are plenty more pros to cons when it comes to using blockchain and cryptocurrency in the art business – just ask Stefania Minutaglio
Cryptos and blockchain: a borderless new economy for the art market
11 [HELLHEAVEN] AUG 3RD, 2020 on ARTSY.NET
The art world is traditionally slow to change, especially to a concept as difficult to grasp as new terminology like cryptocurrencies, tokens, coins, blockchain. But for sure even the most riotous of traditionalists will not deny the evidence the international monetary system is facing one of the worst crises ever. Fiat currencies around the world are crushed by the enormous weight of public debt and trillions printed as a recovery fund. Price inflation is an increasingly topical issue and is putting small and medium investors around the world at a crossroads: continue to fuel a fraudulent system ready to explode, or invest in innovation and decentralization?
11 HeavenHell Art Gallery Director Nicole Zambrano Wants Her Clients to Pay in Cryptocurrency
11 [HELLHEAVEN] JUNE 25TH, 2020 on ARTNET.COM
We spoke to the director of the Miami location about the gallery’s unique payment practices and the meaning behind its unusual name.
The Art of Cryptocurrency
11 [HELLHEAVEN] MAY 08TH, 2020 on IACCSE – ITALY AMERICA CHAMBER OF COMMERCE
Cryptocurrencies have recently gained enormous popularity amongst the general public. With each passing day, more and more companies are radically accepting crypto currencies in their payment systems, paving way for an economic revolution. However, the average consumer’s understanding of what are also known as cryptocurrencies is limited.