See the interior of an NFT art gallery with 36 TV screens, 6 counselors, and space-themed dog sculptures. Investors can pay as they wish.

Co-founders Ryan Marsh (left), James Ryan (center) and Josh Sandhu (right).Stephen Jones / Insider

  • Quantus Gallery is London’s first permanent NFT art gallery. Insider took a tour.

  • The NFTs are displayed on 36 televisions, alongside dog sculptures and physical artwork.

  • It has six in-house advisors to educate visitors on how to make, buy, and sell NFTs.

The idea of ​​a physical art gallery dedicated to the sale of digital works seems somewhat paradoxical.

But Josh Sandhu, James Ryan and Ryan Marsh say it’s the next logical step in a global market that has surged $41 billion in 2021, which is why they opened London’s first permanent NFT art gallery, Quantus Gallery.

An NFT — or non-fungible token — is a digital asset built on a blockchain. It basically provides a single record of ownership. Many see them as modern collectibles.

Some see NFTs as the future of art and point to the fact that established art auction houses Christie’s and Sotheby’s are already in trend. Skeptics say it’s a volatile asset and all popularity is just a bubble.

The three co-founders of Quantus have a background in graphic design, art galleries and finance respectively. They said they wanted to appeal to the “95% of people” who don’t yet fully understand the asset. Opening a physical gallery offers something different and gives more people access to the market, they add.

Intrigued, curious and slightly skeptical, Insider went to see what it was like.

Quantus Gallery is located in Spitalfields, a trendy area in East London.

A photo from Fashion Street in London, it shows

The gallery is located on Fashion Street in the Spitalfields area of ​​east London.Stephen Joned / Insider

It’s far from a normal art gallery, despite its fairly innocuous appearance.

The exterior of the Quantus Gallery in London.

Quantus held a launch party on March 23.Stephen Jones / Insider

The unique room exhibit resembles a traditional art gallery.

Quantus staff mingle with three sofas placed in the open-plan single bedroom.  The back wall is adorned with TV screens with NFT.  There is also a piece of physical art in the far left corner.

The gallery has sofas for guests to sit and enjoy the artwork (or in my case leave my bag).Stephen Jones / Insider

NFTs are displayed on 36 screens spread across the wall and pillars. There is also physical art, including sculptures of what appear to be dogs, wearing space helmets.

Space-dogs, screens and skateboards.

Space-dogs, screens and skateboards.

NFTs are displayed on screens, but sculptures and physical art are also on display.Stephen Jones / Insider

Electronic music plays and visitors are offered a drink if they wish. The goal is to create a “feel-good atmosphere,” Ryan said, who also owns a traditional art business Grove Square Galleries.

Exhibits rotate every three to four weeks.

Four TV screens feature NFT artwork by artist Pierre Benjamin

Crypto Stars, by artist Pierre Benjamin presents a selection of historical figures.Stephen Jones / Insider

An NFT collection by artist Pierre Benjamin, features cartoon-style celebrity portraits – including a clown who looks suspiciously like British Prime Minister Boris Johnson.

It’s not just the NFTs on the screen…

An image of Bluntroller artists is displayed on an easel.  It features a woman.  The words Rouge are written at the top, in imitation of a Vogue magazine cover.

If investors buy Bluntroller’s NFT, they also get the real thing included.Stephen Jones / Insider

Bluntroller and Glen Fox’s physical art can also be purchased as NFTs.

They cost between the equivalent of £5,000 ($6,570) and £15,000 ($19,710) depending on the collection.

Payouts are designed to be as flexible as possible, with investors able to buy art using crypto but also traditional currency, Sandhu said.

The gallery also offers an advisory service to potential investors.

Three easels are positioned around a television, showing a report on the opening of the gallery.

By offering a hybrid approach to NFTs, the group hopes to improve market knowledge.Stephen Jones / Insider

Quantus makes money like a regular art gallery by taking a percentage of profits made by artists, Ryan told Insider. It differs according to each contract but can reach 15 to 20%.

A glazed room in the corner will eventually be an office.

Another interior shot of Quantus Gallery, a glass desk with artwork on the wall.

Brand launches and art workshops are some of the events they plan to hold.Stephen Jones / Insider

The gallery’s 13 employees include a six-person team of in-house advisors, whose job it is to educate visitors on how to make, buy and sell NFTs.

The trio say this is what sets Quantus apart from other NFT galleries which have been established all over the world.

More space dogs and couches…

A black sofa is set against a white wall., With the words Quantus Gallery printed multiple times in a repeating pattern.  Next to the couch is a sculpture of a dog wearing a space helmet and a hot pink image of a woman.

The mostly white walls occasionally have graffiti.Stephen Jones / Insider

Quantus also plans to monetize the space by partnering with brands and community organizations.

Not everyone is happy

NFT Wrapped Frosties on OpenSea

Screenshot of the Wrapped Frosties NFT page on OpenSeaOpenSea

The group says it has been accused by some of “ruining” the NFT market by taking it offline. A self-proclaimed representative of the “NFT community” even phoned them to express their disgust.

But there are more legitimate reasons to criticize NFTs.

Just days before Insider’s visit to Quantus, the The US DOJ has charged two men with wire fraud and conspiracy to launder money for their role in the million dollar ‘Frosties’ NFT scam. Ethan Nguyen and Andre Llacuna would have disappeared shortly after selling all the tokens for their ice cream-inspired NFT.

It is one of many recent large-scale “carpet prints” – scams where seemingly legitimate creators cash out their winnings, leaving investors nothing – and others NFT-related crimes.

Critics also point to the environmental impact of creating and maintaining assets on the blockchain.

Having a Physical Art Gallery Helps Build Trust in NFTs, Quantus Says

The three founders pose for a photo.  Marsh and Sandhu stand in front of, on either side, a desk brightly adorned with Quantus Gallery.  Ryan stands behind.

Co-founders Ryan Marsh (left), James Ryan (center) and Josh Sandhu (right).Stephen Jones / Insider

Scammers can sometimes take advantage of people’s lack of knowledge, Marsh said.

Anyone can set up shop online, but having a five-year lease and being able to talk face-to-face makes Quantus responsible, Ryan added. “You make a statement by having a physical premise,” he said.

They insist Quantus is already set up to anticipate any potential regulations that may come into force – for example, paying £600 a month for anti-money laundering compliance required by regular art dealers.

The trio are open that the gallery is a risk but want to set a precedent.

“There might well be a decent market, but we know we’re in it for the long haul. We have to make it work,” Ryan said.

Time will eventually tell what a safe bet this is.

Read the original article at Business Intern

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