Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

The Winklevii Want to Make Art Transactions Frictionless Just Like Bitcoins

July 22, 2014 by Marion Maneker

Paddle 8 Currency Slide

Fast Company spoke to the founders of Paddle 8 about their recently announced investment from the Winkelvoss brothers. Aditya Julka’s version of the story is very telling, though a little bit confusing:

After being introduced by an existing investor, Julka said, “we talked about how there has been so much conversation about art as an asset class, and while some people think of Bitcoin as a currency other think of it as an asset class. There’s a lot of commonality about how Bitcoin is thought of, and as we spoke with them it became clear they could be very helpful both in terms of global expansion and company building.”

By email, Tyler Winklevoss wrote to Fast Company that “The art market is global and like many global markets it currently feels the pain, inefficiencies, and high-costs of our current payment systems. Bitcoin rethinks the way we transfer value. It is borderless, frictionless, and instant and should be able to bring these qualities to art transactions just like any other transaction.”

Banksy, Bitcoin, And The Winklevoss Twins: An Online Art World Love Story  (Fast Company)

More from Art Market Monitor

  • The Other Aboriginal ArtThe Other Aboriginal Art
  • Madison Park Deaccessions LeWitt SculpturesMadison Park Deaccessions LeWitt Sculptures
  • Color Me ExcitedColor Me Excited
  • A New Gerome for Our GenerationA New Gerome for Our Generation
  • Christie’s NY Imp-Mod Evening Sale = $145mChristie’s NY Imp-Mod Evening Sale = $145m
  • TEFAF Wants Young DealersTEFAF Wants Young Dealers

Filed Under: General

About Marion Maneker

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

Top Posts

  • Gorky, Kandinsky Works to Make First Public Appearance Since 1970s at Sotheby's
  • Soulages First Owned by Senegalese Poet-Politician Léopold Sédar Senghor Sells in France
  • For 2020, Phillips Brought in Total of $760.4 million, Down 16 Percent from 2019; Asia Sales Up 24 Percent
  • Keith Haring’s 1989 Retrospect Comes to Sotheby’s London Prints Sale
  • After Pandemic’s Rapid Change, Sotheby’s Has 8 Predictions for 2021
  • Tony Podesta's Secret Art Buying
  • A Season of Resilience: Fall 2020 Hong Kong Auction Analysis
  • Norman Rockwell's Not Gay. But Is He a Great Artist?
  • Christie's to Sell $12m Yves Klein to Benefit The Water Academy
  • Roy Lichtenstein’s Top Ten Auction Prices
  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor