HOFA Gallery will celebrate its tenth anniversary on November 11 2022 by launching HOFA DAO – London’s first-ever decentralized, blockchain-powered community made up of contemporary art collectors, striving to make global art investment highly accessible.
To mark this occasion HOFA will also unleash its HOFAVERSE, a new and interactive multi-user Metaverse experience at their Mayfair flagship gallery space on November 10. Their inaugural portfolio valued at more than $3,000,000 consists of works by 100 leading modern and digital artists, including blue chip works by Daniel Arsham and Invader.
In that context, HOFA’s partners are Morningstar Ventures and the DAO membership NFT passes are $250 each. They are exclusively sold on Magic Eden’s new Ethereum Launchpad using Apple Pay, crypto, and all the major credit cards. The members will get to enjoy fractional portfolio ownership with profits distributed through smart contracts.
Launched in 2012, the pioneering international modern art gallery HOFA Gallery will celebrate its tenth anniversary on Friday by unveiling London’s first-ever decentralized, blockchain-powered community. The HOFA DAO is a Decentralized Autonomous Organization.
Notably, HOFA DAO’s new art community-led organization will let its members make all the decisions about the governance of their art portfolio, including voting for new acquisitions.
HOFA’s vision is to make investing in modern art open and highly accessible to all users by using blockchain technology. It is a normal next step for a firm with a strong record in developing accessible art experiences across modern art and blue-chip investments.
Elio D’Anna, HOFA’s co-founder, commented about the HOFA DAO:
“Whilst the NFT digital collectibles market has declined in the last 10 months, we have seen a 20% increase in collectors investing in physical assets via the use of NFT authentication and blockchain technology. That’s the unique aspect of the HOFA DAO, membership is obtained via NFT passes giving access to investment-grade physical artworks. So, the collector benefits from the dual security of the blockchain with the stability of the traditional art market.”
He also stated:
“This is the new beginning to HOFA’s second decade of pioneering art experiences.”
The founding artist members consist of 100 highly chosen global artists and the $3,000,000 portfolio includes works by blue-chip artists like Invader and Daniel Arsham, and established as well as emerging contemporary artists like Zhuang Hong Yi, Ilhwa Kim, Jan Kalab, and bio-generative NFT artist Agoria.
The first issue 1,111 (of 3,333) HOFA DAO NFT membership passes will be made available on November 11 at 3 pm (GMT). Each of these NFTs will be valued at $250 and sold through Magic Eden’s Ethereum Launchpad only. They can be purchased using Apple Pay, crypto, and major credit cards.
Members are set to enjoy fractional ownership of the tokenized portfolio, and profits from auctions and monthly sales will happen on-chain and get distributed through smart contracts, guaranteeing transparency throughout the ecosystem.
The other membership benefits include VIP access to exhibitions, early releases, and access to HOFAVERSE a new and interactive multi-user Metaverse VR gallery, and its governance token ARTEM Coin.
