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UK Art Gallery becomes the First to Accept Bitcoin

Last Updated March 4, 2021 4:58 PM
Rebecca Campbell
Last Updated March 4, 2021 4:58 PM

A Mayfair art gallery has become the first in the U.K. to accept six digital currencies including bitcoin, ethereum and ethereum classic.

Dadiani Fine Art, located in Cork Street, London, is revolutionizing how buyers can pay for art by connecting the worlds of technology and art together. Including digital currencies as payment options to the fine art gallery was thought up by Eleesa Dadiani, the gallery’s owner.

According to Dadiani, she hopes that by incorporating digital currencies such as bitcoin to the world of art it will get other businesses to start thinking about how they can adapt to change to new technological innovations.

She said:

Cryptocurrencies will provide a bridge from the elitist, centralist fine art market to a decentralized open source world where many more will be able to become part of this exhilarating market.

She adds that as the current system is becoming stale it needs to be disrupted and that digital currencies hold the key.

This could be a turning point for the cryptocurrency market. For many years, it has been ridiculed but when traditional businesses, such as art galleries, take it seriously it is a sure sign that this is a very important technology that will change things as we know it.

Aside from offering bitcoin, the additional digital currencies on offer include ethereum, ethereum classic, ripple, litecoin and dash. However, as more altcoins become widely recognized the art gallery plans on including those too. It will also be launching its own currency, the DadiCoin, in the future.

The use of bitcoin and the other digital currencies will be available for use at the launch of Dadiani’s upcoming exhibition, The Noise by Mike O’Connor, owner of Heritage F1, which is the only company in the U.K. to buy and sell F1 cars. The exhibition will take place from the 14th July until the 31st July, 2017.

The exhibition is a dedication to the world of motor racing where six sculptures made from the exhaust pipes of Formula One racing cars and other rare motor car memorabilia will be available for purchase. The pieces on display are expected to sell between £25,000 to £30,000.

Featured image from Shutterstock.