MONTERREY. An art fair in Mexico will already accept cryptocurrencies in the purchase of works of art.
This is the Guadalajara edition of the Independent Art Fair (FAIN), which will take place from Friday 27 to Sunday 29 August, where 33 artists will exhibit their pieces in seven studios located between the Americana and Centro colonies.
Even the online store of the fair already has the option to buy with Bitcoin available.
Diego Beyró, Argentine artist and founder of the fair that was born in Mexico City and that this year had an edition in Monterrey, pointed out that they only added Bitcoin as one more payment method, along with cash, PayPal and credit and debit cards.
And the purchase will be for physical works, although they will soon incorporate the option of digital works. For the dates of the fair, the organizers will also accept Ethereum, which is not yet available on the page.
“It took us a week in which we were looking at options, and we do know that many people have their savings and investments in Bitcoin, so we thought it was convenient,” said the also founding partner of the Casa Equis space, located in Mexico City.
“The only advantage (for us) is just accepting one more payment method. It opens a way for us to that group of people who do not want to convert their bitcoins to fiat currency (dollars or pesos) ».
Although cryptocurrencies are very volatile because they change their value abruptly, this will not affect sales or the cost of works, Beyró said. And the incorporation of Bitcoin on the page and in its system was not complicated either.
By accepting cryptocurrencies, the organizers of the fair will assume the risk that the currency will go down in value within 24 hours, when they change the currency to pesos.
For a future edition, the FAIN will include in its offer NFT art (Token No Fungibles), which are works of art in digital format destined or introduced to commerce in the virtual space.
These have attached a certificate of authenticity in blockchain, to validate them as unique pieces; your purchase is through Ethereum.
In the Guadalajara edition, a large part of the selected artists are from Jalisco, such as Luisa Mendoza, Zaira González Beas and Carlos A. Mora.
Although Evelyn Tovar Toro, from Colombia; Ángela Leyva, from Mexico City; Bogdan Mihai, from the United States, and Tahanny Lee from Monterrey.
It is not necessary to visit the fair in person to acquire a work, since the pieces of this edition and of the previous ones can be purchased at https://fainferia.com/tienda/ and have a shipping option.
Photo Courtesy Reforma