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Meet the Founder of the World’s First Decentralized Art Fund
Jordan Huelskamp was well-versed in Web3 and its traditional art-world applications before she founded Salon, a pioneering decentralized art fund. The Stanford alumna cut her teeth at Apple and Artsy before going on to found the fund, which is the first decentralized autonomous organization (DAO) to use the blockchain to govern its collection of real-world artwork—not NFTs.
“Across the art market, I’m seeing a growing appetite for alternative investment models—companies offering fractionalized ownership of works and a rising demand for digital art, for example,” Huelskamp says. “Salon delivers a new model to grow and diversify an art portfolio while staying grounded in the magic of the traditional art world: personal connection, community, and the joys of living with the works in your collection.”
For its investors, who include artists, art professionals, tech enthusiasts, individuals, and traditional investors, Salon confers the benefit of communal governance and the flexibility of using the cryptocurrency USDC to invest. Acquisitions are also made with the DAO’s collective participation. Once purchased, the artwork is in the stewardship of its members, who are able to use their collective funds and expertise to make a bigger impact than would be possible individually. “Decentralized organizations are redefining the nature of collaboration and profit-sharing for groups of individuals organizing to advance common investment goals,” Huelskamp says. “With Salon, we’re leveraging principles revolutionized by web 3—communal ownership, shared governance, and on-chain transparency—to build a distinguished collection of contemporary art.” —Jenna Adrian-Diaz
The Hirshhorn Museum expands its collection with a post-pandemic acquisition spree.
“During the intense peak of the pandemic in 2020, there wasn’t much for museums to do but put on some online programming and hope for the best. The Hirshhorn Museum and Sculpture Garden in Washington, D.C., however, used the tumultuous period to expand their permanent collection. Since late 2019, the institution has acquired 95 works from 60 artists, including pieces by Huma Bhabha, the Guerilla Girls, Yayoi Kusama, Zanele Muholi, Christina Quarles, Tschabalala Self, Lee Ufan, Dana Awartani, Amoako Boafo, Paul Chan, Jeffrey Gibson, Chuck Close, and Rachel Jones.” [H/T ARTnews]
The U.S. Copyright Office and Barbara Kruger weigh in on the Andy Warhol lawsuit.
“The U.S. Copyright Office, art critic Robert Storr, and artist Barbara Kruger are all weighing in on the consequential Andy Warhol lawsuit headed to the Supreme Court this October. The case, for which a number of high-profile figures and organizations have filed amicus briefs, is expected to have major ramifications for the future of fair use, copyright, and how the country balances the need to protect artists’ rights without stifling the creativity of others. At the center of the dispute is a photograph of the singer Prince, taken in 1981 by Lynn Goldsmith, that Warhol later used as the basis for a silkscreen series.” [H/T Artnet News]
To help reinvigorate sales, Peloton will start selling exercise equipment on Amazon.
“Peloton said on Wednesday that it had reached a deal with Amazon to sell exercise equipment, accessories and apparel on the retailer’s U.S. website, as the maker of stationary bikes tries to reinvigorate sales. The deal is Peloton’s first attempt to sell products outside its direct-to-consumer model, like its e-commerce site and showrooms. The products available through Amazon include the Peloton Bike, priced at $1,445, and the Peloton Guide, a training device listed for $295. The company’s more expensive Bike+ machine and Tread treadmill are not available on Amazon, but can still be found on Peloton’s site.” [H/T The New York Times]
The Frank Lloyd Wright trust debuts a virtual tour of his demolished Imperial Hotel.
“Frank Lloyd Wright left this earth in 1959 with a legacy that included over 1,000 designs. Some of his creations remain the most iconic buildings in cities across the world. However, some of the architect’s ambitious projects were either never realized or demolished. These include the magnificent Imperial Hotel in Tokyo, Japan, which stood from 1923 to 1967. While it no longer stands, a project by the Frank Lloyd Wright Trust entitled Frank Lloyd Wright: The Lost Works allows viewers a bird’s eye tour through the hotel.” [H/T My Modern Met]
“Hours after the task force formed by the Orlando Museum of Art in the wake of this summer’s Basquiat scandal revealed multiple trustees would be leaving the institution’s board, the museum announced that interim executive director Luder Whitlock had resigned. Whitlock had come aboard just six weeks ago after the departure of director Aaron De Groft, who had brought the “Heroes & Monsters” exhibition to the museum in February. That exhibition’s art, purportedly by Jean-Michel Basquiat, was seized by the FBI in June as part of a longtime investigation.” [H/T Orlando Sentinel]
Venice creates a map of water fountains so tourists cut back on water bottle usage.
“As visitor numbers start to bounce back from the pandemic, Venice is looking for ways to minimize the environmental impact of tourists. The Italian city recently launched a new fountain map, in an effort to encourage visitors to access clean water from these sources instead of using plastic bottles. The campaign was initiated after local government data revealed that tourism accounts for between 28 and 40 percent of garbage production, depending on the season.” [H/T Designboom]
Richemont offloads most of its loss-making stake in YOOX Net-a-Porter to Farfetch.
“Richemont announced a long-awaited deal to offload most of its online fashion retailer YOOX Net-A-Porter, clearing the way for its labels to sign up for technology run by luxury e-commerce specialist Farfetch. The deal, removing from its books a loss-making business that had become a distraction for the Swiss luxury group, was welcomed by analysts and Richemont shares were up 3.6% in afternoon trading. The deal follows months of negotiations that were complicated by the e-commerce sector’s retreat from pandemic highs as consumers returned to physical stores.” [H/T Reuters]