LONDON, England, Oct. 26, 2022 (GLOBE NEWSWIRE) — Founded in 2012, the pioneering international contemporary art gallery HOFA Gallery will celebrate its tenth anniversary on November 11, 2022, by launching the first-ever decentralized collector community of contemporary art, powered by blockchain called HOFA DAO (Decentralized Autonomous Organization).
The new organization, led by the HOFA DAO art community, will allow its members to make all decisions regarding the management of their art portfolio, such as voting on new acquisitions. HOFA’s vision is to make investing in contemporary art open and accessible to all through the use of Blockchain technology. It’s a natural next step for a company that has a strong track record of creating accessible art experiences in contemporary art and blue-chip investment.
HOFA co-founder Elio D’Anna says of HOFA DAO, “While the NFT digital collectibles market has declined over the past 10 months, we have seen a 20% increase in collectors investing in physical assets through the use of NFT authentication and blockchain technology. This is the unique aspect of HOFA DAO; membership is obtained through NFT passes giving access to investment-grade physical artwork. So the collector benefits from the dual security of the blockchain with the stability of the traditional art market.”
He adds, “This is the new beginning of HOFA’s second decade of pioneering art experience.”
The founding artists are 100 highly-curated global artists, and the $3,000,000 portfolio includes works by blue-chip artists such as Daniel Arsham and Invader, as well as established and emerging contemporary artists such as Jan Kaláb, Zhuang Hong Yi, Ilhwa Kim and bio-generative artist Agoria.
The first issue of 1111 (out of 3333) HOFA DAO NFT membership passes are available on November 11 at 15:00 (GMT), each worth $250 and accessible via Magic Eden’s Ethereum Launchpad, purchased with crypto, Apple Pay and all major credit cards.
Members will enjoy partial ownership of the tokenized portfolio, and profits from auctions and monthly sales will happen on-chain and be distributed through smart contracts, ensuring transparency in the ecosystem and its ARTEM Coin cryptocurrency. Other membership benefits include VIP access to exhibitions, art fairs, early releases and access to HOFAVERSE, a new interactive multi-user Metaverse VR gallery.
Jack Lu, CEO and co-founder of Magic Eden, says of the HOFA DAO project partnership, “At Magic Eden, we are constantly seeing the development of the NFT space. The trend of using blockchain technology to secure tangible assets is rapidly growing, and we are excited to introduce HOFA DAO’s first portfolio of master artworks to market through Magic Eden’s world-class Launchpad.”
Danilo S. Carlucci of Morningstar Ventures says about investing in HOFA DAO, “As we at Morningstar Ventures increasingly invest our resources in creating new NFT-related ventures, partnering with HOFA on this DAO project allows us to explore new use cases. The marriage of art and web 3 is here to stay and we’re just starting to see new ideas and concepts come to fruition.”
Press Preview November 10, 2022, 9 a.m. – 2 p.m. RSVP: [email protected]
London pre-launch party at HOFA Gallery unveiling HOFAVERSE in conjunction with London Crypto Week by TOKEN2049 on Nov 10, 2022 6:00 PM – 9:00 PM RSVP
HOFA DAO NFT Membership Goes to Launch The magical paradise Ethereum Launchpad on November 11 at 15:00 (GMT).
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Image 1: HOFA DAO Pass VIP
HOFA DAO Pass VIP
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