The House of Fine Art (HOFA) is launching its newest gallery location in Los Angeles, their first in the US – and the inaugural presentation at the new gallery is Qvantum, the ground-breaking cryptocurrency exhibition of work by internationally acclaimed artists including Joseph Klibansky, Zhuang Hong Yi, Ilhwa Kim and Marco Grassi.
Qvantum opens at HOFA Los Angeles (819 La Cienega Boulevard) with a public reception from 6 to 9pm on Tuesday, October 30th and will remain on display until Friday, November 30th. Qvantum already has majorly hit the headlines in London and Europe when the exhibition was recently shown during Frieze Week 2018. It set a ground-breaking precedent for making every piece of the $115M art portfolio available to be purchased through cryptocurrency.
The anticipation for Qvantum has hit a whole new level, as Joseph Klibansky’s ‘The Thinker’ sculpture attracted a 5 metre tall commission by Zurich based Swiss collector before the doors had even opened at HOFA’s Mayfair gallery in London.
The commission was sold for 211 Bitcoin (equivalent of approx £1.1M), and the artist [Klibansky] will receive all his payments in cryptocurrency. To date, the value of the work sold has hit over £2.5M.
HOFA spokesperson Simonida Pavicevic explained why West Hollywood is the perfect location for their new gallery:
“West Hollywood is a special place where creativity in all its many forms is truly appreciated. LA is where stars are born and we know LA will shine an even brighter light on artistic talent. We are extremely excited to be able to share the exceptional works of our resident artists with art collectors in the US.”
“There is a great market in LA and there are a lot of investors there who are looking for innovative investments. The Qvantum exhibition certainly offers that, and as our exhibition tagline reflects ‘There is an Art to finding new investments’ we’re just giving LA investors a helping hand by bringing the opportunity to them.”
HOFA’s West Hollywood location will provide a new platform for artists who have enjoyed major acclaim and success in other countries and now keen to share their work with LA. The House of Fine Art – HOFA Gallery is a contemporary art gallery exclusively representing a portfolio leading original works of art featuring a multitude of genres, including paintings and sculptures, with a focus on unique, distinctive and rare artworks of appreciative value by internationally acclaimed artists. For more information, please visit: http://thehouseoffineart.com/