The exclusive world of high luxury and fine art had its first taste of blockchain innovation during the recent Art Stage 2018 expo in Singapore, when Aditus Pay, a crypto payment service provider powered by Aditus, successfully completed the cryptocurrency payment.
The biggest art fair in Southeast Asia, Art Stage, is the go-to event for affluent collectors and art enthusiasts, featuring the talents of the global and regional arts scene, fostering international art awareness and introducing contemporary Southeast Asian art. Now, it welcomes the new wealthy elite from the cryptocurrency sphere.
As a part of new blockchain-based luxury access platform created by Aditus, Aditus Pay was used by expo visitors to make purchases of artwork on display, using a range of cryptocurrencies, including the digital asset native Aditus tokens (ADI).
The event at the Marina Bay Sands Expo and Convention Centre was the eighth edition of the annual event, featuring 84 exhibitors and attracting over 26,000 visitors. It focused on the Thai art scene under an overarching theme of “Interactions”, with the Aditus booth receiving over 1,200 visitors enquiring and using the interactive Aditus Pay facilities.
Four paintings were sold to interested collectors using Aditus Pay facilities, including the distinctive piece Fishing Catch Games by Indonesian artist Naufal Abshar, part of his “HAHA” series set out to test the boundaries of humor with off-hand social commentary.
Singapore’s Art Porters Gallery co-founder, Guillaume Levy-Lambert, was reported to have been “thrilled with the sale” of a significant piece from Abshar’s early works, noting that the payment settlement was completed seamlessly without issues, demonstrating the ease and security of Aditus Pay. Levy-Lambert believed that this event would mark the introduction of a new influx of elite art connoisseurs from the domain of cryptocurrency, and that Aditus Pay would be an added value to the luxury scene.
Founded by experienced luxury and technology entrepreneurs, Aditus leverages the know-how and industry insight gained through its network of luxury providers with their technological expertise to offer the first solution for crypto owners to pay for luxury items. Recognizing the many issues that complicate the interactions between crypto users and mainstream merchants, the Aditus Pay gateway is the first step towards integrating both spheres.
As a new asset class, cryptocurrencies continue to be the fastest-growing commodity in the open market, and has created a new crop of high-value individuals keen to explore new avenues in high living and the appreciation of regional talents. Aditus is pleased to become a part of this historical moment, bridging crypto users with art investments and opening a new market segment in the world of fine art.
With success already achieved as a luxury access platform, Aditus envisions its payment solutions to foster crypto adoption beyond the confines of fine art and luxury living.