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Monday, 30 January 2023
When Art Collectors Overlooked NFTs – The Story of a Failed Start

When Art Collectors Overlooked NFTs – The Story of a Failed Start

2022-10-29

It’s no secret that the art world is well-known for its collectors and its wealth. But what if these collectors weren’t interested in buying art but rather in building their own private art galleries to show off their most beautiful works of art? Or what if these collectors weren’t trying to amass an extravagant collection of artwork but rather in the making of unique art objects that would be of interest to collectors and other art enthusiasts? These are the goals of many art collectors, and the rise of the non-for-profit foundation is a key example of this new breed of art collector.

This article will explore the rise of the non-for-profit foundation and its potential impact on the art market and the art world in general. But first, let’s back up for a second and take a look at the failures of the for-profit gallery model and how it changed the way art is sold. Art collectors have long been an elusive breed. They’re usually people who can’t afford to buy everything or have a taste for unique art objects. Nowadays, these collectors are known as non-for-profit foundations instead of collectors. These foundations are groups of people that are not trying to make money from their art collection. Instead, they want to showcase their art to other art enthusiasts and help others learn about and appreciate art.

The Rise of the Non-for-Profit Foundation

Art collectors have long been an elusive breed. They’re usually people who can’t afford to buy everything or have a taste for unique art objects. Nowadays, these collectors are known as non-for-profit foundations instead of collectors. These foundations are groups of people that are not trying to make money from their art collection. Instead, they want to showcase their art to other art enthusiasts and help others learn about and appreciate art. Many art collectors who pursue the non-for-profit model also have a collection-building or luxury goods collection. This is a big reason why the foundation model has attracted so much attention. The foundation model lets you show off your art to other art enthusiasts while simultaneously supporting charity. Furthermore, the foundation model eliminates the hassle of marketing, selling, anduch as the for-profit gallery model entails.

The Future of Art Collecting

The future of art collecting is bright. With the foundation model of collecting now being the norm, it’s no longer considered a niche interest. The popularity of the foundation model shows no signs of slowing down, and more and more collectors are realising the benefits of this new way of collecting. Furthermore, it’s helping to change the way art is sold. For the first time in decades, there has been a decline in gallery sales of art. This is largely due to the popularity of the foundation model.

The Problem with Art Exhibiting

Art collecting has always been a bit of a mystery. Sure, there have always been art dealers and collectors who specialize in acquiring Old Master paintings and other high-end works. But the gallery model of exhibiting art was primarily designed for museums, where the public isn’t supposed to see the full range of your collection. As a result, the gallery model left many art collectors with a lot of art to show off but very little to do it in.

 

What is a Non-Profit Foundation?

A non-profit foundation is a charity that raises money through donations from the public, not from selling art works. This is actually one of the main advantages of the foundation model. Unlike a for-profit gallery that hosts regular public openings and then sells the artwork at a profit, a non-profit foundation only hosts live presentations of its artwork. This means that you don’t have to spend a fortune on marketing or on the running of a gallery. You don’t have to deal with the hassles of exhibiting in a traditional gallery. You don’t have to worry about sell-outs or getting your work on loan to private galleries. And you don’t have to worry about curators and other art experts who might be able to help you curate or advise on your art collection.

The Rise of the For-Profit Gallery Model

The rise of the non-for-profit foundation can be described as a “reversal of fortune” for the for-profit gallery model. For decades, the for-profit gallery model was king. But as more and more art collectors discovered the benefits of the foundation model, the for-profit gallery model lost its cachet among the new breed of art collectors. All of a sudden, there were a lot more collectors who wanted their artwork in a non-for-profit gallery. As a result, for-profit galleries were replaced by non-for-profit foundations.

What is the Future of Art Exhibiting?

Now that the dust has settled on the rise of the non-for-profit foundation, it’s time to look at the future of the old, tired gallery model and see if it can be saved. Currently, there are two main models being considered for the future of the gallery model. They are the co-operative and the non-profit.

The co-operative model is designed for galleries that are part of a larger organisation. For example, an art gallery that is part of a museum is probably a better option than being a for-profit gallery on your own. In the non-profit model, galleries are independent entities that are trying to solve the same problems as the for-profit gallery model.

Conclusion

Art collecting has always been a bit of a mystery. Sure, there have always been dealers and collectors who specialize in acquiring Old Master paintings and other high-end works. But the gallery model of exhibiting art was primarily designed for museums, where the public isn’t supposed to see the full range of your collection. As a result, the gallery model left many art collectors with a lot of art to show off but very little to do it in. The rise of the non-for-profit foundation is a key example of this new breed of art collector. These collections are managed by non-profit foundations and show no signs of slowing down in size or in their desire to show off their works of art. The future of art collecting is very bright.

 

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