Hi-End Art Collection Sold for Cryptocurrency
September 1, 2018 11:26 am
An artist recently sold an entire collection of his creation in cryptocurrencies. Lincoln Townley is well known in the art world for selling his creation to rocks stars, professional athletes, and even Hollywood A-listers. His unique ways of exhibition are also something he is renowned for.
Lincoln Townley is based out of London and currently lives in Los Angeles. Some of the notable collectors of his artwork include Sting, Al Pacino, Ronaldinho and Michael Caine. Townley is now offering another mode of payment to its customers, cryptocurrencies. He is known for conducting sales digitally.
Instead of the traditional way of conducting art sales, Townley prefers Whatsapp and social media platforms to monetize its work. His work is purchased all around the world. This gives him another reason to make the mode of payment accessible to all.
Michael Caine has called Lincoln as “The next Andy Warhol”. Recently, he used his exclusive social media outlets to sell an entire collection of artwork over the weekend. Majority of the buyers saw the artwork in person once it had been delivered.
It is believed that the people who have chosen to use cryptocurrency also appreciate artwork as a store-of-value. Townley also stated that many of his buyers are looking to diversify their investment portfolio through buying his artwork.
Lincoln Townley believes that displaying and selling his art in exchange for cryptocurrency can help change the industry norms. It will also help eliminate the middleman from the process, further increasing his share of earnings. It is expected that soon other artists will also turn to cryptocurrencies for selling their art collection.