As a gallery that embraces innovation, we are always looking for ways to connect our clients to the most exciting emerging artists. That is why, for the first time ever, The Lauderdale Gallery will be expanding our offering to include creators whose work exists solely in the digital sphere. We are also looking to implement methods to accept cryptocurrencies such as Bitcoin, Ethereum and USDT as payment for both physical and digital works.

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The letters NFT stand for ‘non-fungible token”, which is a term used to describe an exclusive digital asset that exists using blockchain technology. NFTs can take the form of video clips, musical compositions, animated sequences or digitised artwork.

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In 2021, there has been a seismic shift in the way that clients purchase art, with respected institutions such as Sothebys auctioning Non Fungible Tokens for record prices. NFT’s even have the backing of iconic British artist Damien Hirst, who launched his own collection of 10,000 works in July of this year.

 

NFTs meteoric rise in popularity can be explained by the fact that they offer a much needed solution to issues of provenance and ownership which have long plagued avid collectors of art. They also have the potential to grow steeply in value and their computerised form eliminates the need to store in special conditions unlike fragile, material works.

 

At The Lauderdale Gallery, physical art will always be our primary love, however we are excited to progress into the era of decentralised financial freedom by joining the NFT marketplace. For updates on new projects and first access to future NFT drops, sign up to our newsletter below.