London-based contemporary art gallery, HOFA, in collaboration with sister digital art investments platform, ARTCELS, announced a new series of limited-edition crypto artworks for 2021 created by established and emerging contemporary artists in the form of Non-Fungible Tokens (NFTs).
HOFA and ARTCELS Co-founder, Elio D'Anna explains, “We have always aimed to innovate in this market, and became the first fine art gallery to offer purchases via cryptocurrency in 2018. Our entry into NFTs will become another first, as we successfully usher contemporary art by recognised and celebrated artists into the cryptosphere.”
HOFA’s crypto-artworks have been made available for purchase through partners Zora, a protocol designed for the Ethereum blockchain that establishes universal markets for NFTs. Zora enables creators and collectors to come together in one place; creators earn all the value they have created by selling at a dynamic price while collectors can participate, buying into exclusive products early in the process of creation.
Authenticity and ownership of the artworks are tracked on the blockchain, so while the unique artworks move through collectors’ hands, the buyer has status as the official owner and the artist receives royalties with every resale.
‘True Illusion (Nexus) III’ NFT Jason Sims (2021)
The releases also coincided with HOFA’s calendar of specially curated exhibitions hosted both in gallery and virtually.
HOFA’s inaugural NFT release titled 'Red Flower IV' took place on 25 March by Zhuang Hong Yi. This unique crypto art is a high-resolution video of Hong Yi’s signature floral sculptural art created entirely in digital format. The release consisted of 50 unique and numbered digital artworks priced individually at 1 ETH, with a single full crypto art animation to be auctioned to the highest bidder.
The following release will run alongside the highly anticipated Matter & Form NFT exhibition at HOFA from 2 – 17 May, showcasing emerging artists such as Jan Kaláb, Jason Sims, Katya Zvereva, Loribelle Spirovski, Bran Symondson, Mary Ronayne, Noman, Aleksandar P and Vladinsky.
D'Anna sums up by saying, “Our new crypto-artworks will break new ground for collectible digital contemporary fine art. It's part of our ongoing effort to diversify the options available for art investments while also welcoming a new and enthusiastic cohort of young, affluent investors.”
Red Flower IV’ NFT by Zhuang Hong Yi (2021)
Further NFT releases will be announced via HOFA Gallery’s website.
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