Increasingly, the art world is seeing auction houses, galleries and institutions opening up to cryptocurrency. The benefits are clear cut: accepting crypto taps into more (digital) wallets, whether that’s for philanthropy or commercial ends, with quicker transaction times and lower costs.
Last year, ArtsHub reported on the Northern Centre for Contemporary Art (NCCA) – the first known Australian arts institution to accept crypto philanthropy – when they received three carbon-neutral bitcoins equating to $140K. It was the largest single private donation in the organisation’s history.
