Going into the Silicon Valley art market
The well-off technologists of Silicon Valley understand something about the interruption. They have additionally long been a coveted customer group for art suppliers. Getting the Valley’s elite curious about purchasing art was the major inspiration behind Silicon Valley Cointemporary, an art fair that was arranged for the first time three months ago, a profession media covered the art globe.
The fair was geared in the direction of technologists by exhibiting new artworks. Bitcoin made an appearance both as a medium of settlement and topic for the artwork themselves. It was reported that within a half hour of the occasion, a sale had already been agreed, and settled in Bitcoin.
Another artist whose work has included bitcoin plainly is San Francisco-based Tom Loughlin. His 2014 piece ‘Bitcoin Cash advance’ is a neon sign made to resemble the look of a payday money provider’s window sign in downtown San Francisco. It was set up at Google in Hill View as well as will be hung at the Jack Fischer Gallery in the City quickly, according to the San Francisco Chronicle.
Risks of Cointemporary
Artists are heating to the idea of approving bitcoin for their jobs. Artists who consign their jobs to Cointemporary are provided the choice of taking settlement in fiat money or cryptocurrency. Cointemporary provides an incentive to artists who accept a settlement in cryptocurrency by supplying a larger cut of the sale price, or 70%, contrasted to a flat payment, which generates 60%.
Another company, 0xowns.art started the same dealing of online arts with the help of Ethereum. They accept payments of the artwork only via Ethereum. So, when you purchase the art, you have to pay in Ethereum, and then you will own the artwork, and you will set a price for the art. When next the artwork will be sold, the price will be sent to your Ethereum wallet, and your ownership will also get transferred to the new buyer.