World Edges Closer to Being Able to Buy Art With Bitcoins, Thanks to Paddle8 and the Winklevii

Gallerist

Cameron and Tyler Winklevoss (Courtesy PMC).

Paddle8, the auction startup backed by Damien Hirst, Diane von Furstenberg and Princess Eugenie of York, is already a pioneering art world tech company. They made it possible for collectors to buy art from the comfort of an iPad screen.

Now, according to an article in Fast Company, it’s clearing even more antiquated road blocks—constantly fluctuating exchange rates, endless bank transfer hiccups, unaccounted-for delays—by upping its involvement with Bitcoin, the boundary-less cryptocurrency.

All of this has something to do with the Winklevoss twins, who as of last year owned one percent of all the world’sBitcoins. As a result, Cameron and Tyler are now the newest investors in Paddle8. They drank champagne and ate paella to celebrate. Congrats, all!

As for their confidence in Bitcoin, well, the Winklevii are pretty sure that soon, no one will buy art with that old-fashioned stuff called money. Cash! How quaint.

By email, Tyler…

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