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Italian art dealer Stefania Minutaglio is the head of 11 [HH] Art Gallery in both Rome and Miami. She has recently begun accepting crypto payments for the artwork she sells and says that some of the artists who consistently feature their work with her gallery have begun to embrace digital assets as well.
Stefania Minutaglio Enjoys Her Crypto
In a recent interview, Minutaglio explains why she thinks cryptocurrency is the future. She mentions:
No doubt our gallery is a forerunner in terms of cryptocurrency in the art world. Our market is evolving fast and global. We may not like it, but we cannot ignore it. We prefer to cover our eyes, and despite so much talk about it, only a few of us may affirm to understand what the digital revolution is.
One of the big things, in her opinion, that is causing the digital world to become far more stable than the traditional methods of record keeping we’ve witnessed over the past several years is the fact that blockchain technology is consistently utilized. She likes the idea of all data being recorded to the blockchain and is excited by the notion that this data cannot be deleted or tampered with.
The information contained in each block passing from one node to another in the chain cannot be altered, manipulated or overwritten in any way. The blockchain system is as impregnable as a fortress and is not hackable. It seems like a Columbus’s egg – so brilliant and simple and easy. I simply opened a wallet for the gallery after complying with all the anti-money laundering regulations. Now, I can accept payments in crypto as easily as using PayPal.
Minutaglio is also confident that there are several benefits of accepting crypto and feels that digital assets are far more valuable than standard cash or fiat payments. She comments:
In a nutshell, for galleries, trading in crypto will provide a competitive advantage that will soon make a difference. Who is left behind will no longer maintain their leadership on the market? But even the young emerging galleries will finally have a real advantage over the larger and more structured blue-chip galleries that have not evolved. For artists, crypto is a far more ethical way to be paid and maintain control in the sales process.
Thinking Ahead for the Future
She says that many people still don’t understand cryptocurrency well enough to utilize it, though she knows that the day will come when it’s far more mainstream than any other asset we’re used to today, and she refuses to be out of the loop. She states:
I realized how this revolution is deeply affecting our lives. The impact on a social level is much greater than on a financial level… I simply decided I couldn’t, and wouldn’t, be left behind.