As the NFT art market grows, so do the number of ways to showcase digital works, from new digital frames to online marketplaces, metaverse shows and auctions, to galleries physical appearances of the venerable Christie’s and the upstart superchef.
In Los Angeles, a new physical digital art gallery has opened on Abbot Kinney in Venice, and it’s attracting interest from Hollywood and OG artists.
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The Gall3ry by Kollectiff is a 4,600 square foot space, accessible only by appointment, which was created by Rupert Runewitsch, chief growth officer of Kollectiff, a Web3 venture capital studio with 20 employees who has worked with clients such as DressX and British indie rock band The Wombats.
“We wanted to bring an NFT hub to the neighborhood for people to have a real-life digital experience,” he says of the venue, which is equipped with screens that can be rented by the week for events and exhibitions. , with Kollectiff taking a drop in sales.
The gallery hosted its first exhibition in March, featuring NFTs by 13-year-old digital artist Nyla Hayes, Bored Ape Yacht Club valet of fame Jenkins and Julie Pacino, who followed a path from photography to NFTs and used them to finance his film. , “I live here now.”
“Nyla earned nearly $6 million in Ethereum for her first collection…all of the pieces we showed were based on Time magazine’s most influential women, and the ‘Long Neckie’ portraits she has of them. facts,” says Runewittsch, adding that the gallery takes payment in cryptocurrency and buyers can purchase NFTs on-site using an on-screen QR code that takes them to the OpenSea Marketplace.
“The opening drew three times more people than expected, and I had a lot of conversations with old school artists who wanted to know what it was all about,” he adds, mentioning artist LA Pontus Willfors for one, and highlighting photographs and other works of locals on the upstairs walls. Kollectiff also functions as a Web3 members-only club and coworking space, where the purchase of a personalized NFT is the price of entry. A Miami outpost will open soon.
Hayes and the other two digital artists from the first LA show are represented by CAA, and the exhibition marked the first time the agency has partnered with a gallery to show the work of its NFT creators.
“[Rupert] and his team built this impressive space,” says CAA executive Tom Capone, who worked with the gallery on the project, adding that the agency has been active in the Web3 space for over a year and represents a dozen of artists. “The concept of community is something central to Web3.…Having the ability to bring people together to meet in real life who you may have talked to online last year, or share an interest commonality or appreciation for an artist with, whether it’s in a gallery, at a street mural party, or at one of the conferences, has been powerful for many of these collectors.
Despite all the hype, the verdict on NFT art sales in physical galleries is still to be determined. According to a 2022 Artsy Gallery Insights report from online sales platform Artsy, only 11% of galleries sold NFTs in 2021, while 67% said their customers didn’t even ask about them. Of those who sold NFTs, half said the total value of their sales was $50,000 or less, and only 5% earned more than $250,000 selling NFTs in 2021.
Yet, so far, Kollectiff’s programming has been dynamic.
Dakota Fanning, Myles O’Neal and Gigi Paris were among the guests at an event this month hosted by famed photographer Max Montgomery, where portraits started at 0.5 ETH and included an NFT of the image.
And on June 3, Kollectiff will feature the Spirit Coin NFT art of Nicole Buffett, granddaughter of Warren Buffett, who uses her earnings to support environmental and social causes. Future workshops are also planned to teach people how to build and create their own NFTs.
“In the NFT space, there are so many possibilities and the whole point of this space is to educate,” says Runewich.
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