From Manila to Beijing, the Asian art universe is changing as non-fungible tokens gain traction as assets.
In Manila, friends and NFT collectors Gabby Dizon and Colin Goltra opened Narra Art Gallery early this year to provide the cryptocurrency community with a venue in which they could shop for digital art. The virtual gallery offers five floors of exhibits accessible via the virtual world Decentraland’s Metaverse in the 100xArt District neighborhood.
Named after the Philippines’ national tree, the Narra Art Gallery offers an opportunity for the local blockchain art scene to thrive by providing a venue for showcasing Filipino talent across the country and abroad.
Across the South China Sea, nearly 3,000 km away, Beijing’s art market is also embracing NFTs, Artsy.net reports, fueled by a recent auction of work by digital artist Beeple. Beeple’s works were auctioned by Christie’s.
Jacky Ho, the Hong Kong-based vice president and head of evening sales at Christie’s, said, “The Beeple sale has taken the Asian market by storm.”
Of the 33 bidders for Beeple’s work — “Everydays: The First 5000 Days (2021)” — at least 18% came from Asia, data showed.
In late March, a digital currency art exhibit also opened in Beijing featuring the works of Beeple and Robert Alice. Although the exhibition, entitled “Virtual Niche — Have you ever seen memes in the mirror?” was not the first cryptocurrency-related art exhibit in China, it reportedly marked the first time visitors were allowed to buy tickets and view cryptocurrency artworks in person.