Driven by the belief that artists should be looking for innovative ways to sell their work, a London-born artist has sold his entire art collection for cryptocurrency.
Lincoln Townley is a self-taught artist who has been hailed by Michael Caine as the “next Andy Warhol” and boasts a string of A-list collectors, including Samuel L Jackson, Al Pacino, Ronaldinho and Sting.
Shaking up the world of art with technology
Townley says he is “shaking up the art world” by creating a community of digital buyers.
Relying solely on social media, the British artist sold an entire art collection for cryptocurrency in just one weekend. Townley doesn’t hold back in rebuffing traditional forms of art selling, proudly selling his work to collectors around the world through the likes of WhatsApp and other social media platforms.
Talking to the Express, Townley spoke of the appeal of cryptocurrency.
“I’m always looking at ways to do things differently in my route to market. There is no two ways about it. The people who invest in Bitcoin are without doubt speculators – they are looking at something with more of a risk.”
“But that’s why I thought to myself, these are the sort of people that would be interested in purchasing my art as an extension of their investment portfolio.”
“There are so many other ways to get sales with technology.”
Diversifying digital investment portfolios
The artist revealed there are art collectors with an enthusiasm for cryptocurrency, but the most interested collectors are those seeking tangible ways to diversify their digital investment portfolios.
“They are looking for a tangible asset they can put this newfound currency into,” said Townley.
Speaking of the burgeoning bitcoin market, the self-taught artist and crypto enthusiast believes bitcoin’s value will continue to rise.
“I think there is a huge market for expansion, with it being something that is going to inflate in value,” Townley commented.
The British artist is not alone in making inroads in bringing cryptocurrency to the art world. This August, a cryptocurrency art exhibition was launched at a London art gallery, in an attempt to encourage collectors to purchase art through alternative means.
The House of Fine Art in Mayfair claimed that their art exhibition was the first ever cryptocurrency art sale.
Gabrielle Pickard-Whitehead is a freelance journalist and copywriter based in the Peak District, UK. Since 2006, Gabrielle has followed her passion for writing and has sculptured a rewarding career out of her love for the written word. Gabrielle thrives on creating compelling content related to current affairs, politics, financial news and the latest advancements in technology and innovation. Gabrielle is excited about having the chance to write about the constantly-evolving world of crytocurrency and enabling people to learn more about this rapidly-advancing digital asset.