In a world first, sales of work at an upcoming Mayfair fine art exhibition will be conducted solely in cryptocurrency.
Requiem for the Emblem of Power by British artist Paul Wager will commemorate the centenary of the end of the First World War through a series of high-impact, constructivist paintings and sculptures.
The exhibition will run at Dadiani Fine Art, which in 2017 became the first UK art gallery to accept cryptocurrency as a form of payment for works of fine art.
A wide range of cryptocurrencies will be accepted – including Bitcoin, Etherium and Bitcoin Cash – with payments processed by Dadiani Syndicate, a luxury brokerage and sister business to Dadiani Fine Art that facilitates the sale of luxury assets in cryptocurrency.
For potential buyers who do not own cryptocurrency, Dadiani Syndicate will also be assisting with the transaction process and advising buyers on the best cryptocurrencies to transact with.
Featured exhibition pieces include Memorial Omnibus, a bronze and corten steel sculpture, and the water-based paint pieces Disorder, Chaos and Disjecta Membra.
Prices will start at the equivalent of £50,000, or 4.7 BTC at current market value for smaller paintings, £100,000 equivalent to 9.4 BTC at current market value for larger paintings and circa £300,000 or 28 BTC for sculptures.
Requiem for the Emblem of Power will run at Dadiani Fine Art from January 25th to March 9rd 2018.
Eleesa Dadiani, founder of Dadiani Syndicate, said:
“The First World War was the horrific consequence of rival states blindly vying for power and supremacy.
“By conducting the sale of this exhibition exclusively in cryptocurrency, we symbolically look forward to a brighter, more decentralised future in which individuals have greater autonomy and entrenched state power can be overcome.”
Paul Wager, artist, said:
“In this centenary year of the end of WW1, it is highly appropriate to commemorate this event. Throughout this period political and core religious faith values were disregarded, and amidst the carnage it would appear nothing from a moral stand during the war was achieved.
“My forthcoming exhibition at Dadiani Fine Art is a Requiem for the Emblem of Power and War. The painting and sculpture included in this exhibition is not fully comprehensible – but has a profound and unique distinction.”