Pace Gallery Heads Into Crypto-Art Market With Dedicated NFT Platform

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Marc Glimcher, President and CEO of Pace Gallery, and among the crypto-art market’s most vocal supporters – at least among all mega-resellers – announced the first platform dedicated to the sale of artist NFTs.

Due to an opening in September, the still unnamed The platform will debut with a series of new NFTs from Lucas Samaras based on his archive of digital prints, making it the 84-year-old’s first foray into the medium.

The goal is not to compete with established crypto-art markets such as Nifty Gateway or Rarible, Glimcher told Artnet News, and collaborations will be considered “on a case-by-case basis,” he said.

Instead, the platform, which live on the gallery‘s website and be overseen by Christiana Ine-Kimba Boyle, Pace’s Director of Online Sales, is intended to an outlet for Pace artists to produce and sell digital artwork while the gallery controls the price.

“By offering artists‘ work on our own platform, we can better help them set appropriate prices and manage the sales process more transparently than through third parties,” said Glimcher.

Part of the impetus, he says, came from the artists in the gallery.

“We work with a number of artists who want to create NFTs, so creating a dedicated platform where they can show their work is an obvious solution,” he said.

In April, Pace teamed up with Urs Fischer for the sale of its first NFT via the Fair Warning auction app, which would have caused a rupture between the artist and his long-time dealer, Gagosian. The artwork, a digital animation of a lighter fusing with an egg, sold for $ 97,700.

Pace will team up with Fischer again this month when he hosts an online exhibition of the artist’s NFTs. The show is scheduled to premiere on July 21. Later this summer, Pace will present an NFT project by one of its most recent artists, Glenn Kaino.

Pace also now accepts cryptocurrency as a payment method for all artwork, physical or digital.

“I am a crypto person,” said Glimcher Bloomberg, who first reported the news from the NFT platform. “It’s really painless to accept crypto. It’s just: why wouldn’t you do it?

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