Middle Eastern bitcoin investors eye Australian Aboriginal art

Staff WriterMarch 11, 2019
Clifford-Possum-TJAPALTJARRI-Warri-Warri

The Indigenous Fine Art Gallery (IFAG) is offering Middle Eastern Bitcoin investors the opportunity to cash convert bitcoin in exchange for museum-quality Australian Aboriginal art.

IFAG said the opportunity was ‘never before seen in market’, with the pieces from Australia’s most collectable indigenous artists, usually only exhibited in national museums and art galleries around the world.

There has been increasing interest and demand for Australian indigenous art in the Middle East, according to IFAG, which said Aboriginal art had been appreciating in value at times as high as 600 per cent each year. 

“We are not aware of any other opportunity for bitcoin investors to cash convert their bitcoin into something so tangible, so collectable and with appreciating value as Aboriginal art,” said IFAG principal and associate David Meese.

Amidst the volatility of the cryptocurrency market, IFAG said it was offering investors the chance to safely cash out their bitcoin for a tangible investment that would appreciate in value.

“In 10 years from now, most of today’s cryptocurrencies will be long gone, perhaps even bitcoin, which will most likely be replaced with even greater revolutionary technology,” said Mr Meese.

“However, we believe that cryptocurrency and the whole blockchain concept is here to stay and that they will play a large role in shaping the future.

“We are willing to take the risk as early adopters in order to be part of the vanguard of bitcoin’s success, and at the same time bring Australian indigenous art to new audiences who also happen to be early adopters.”

Most of the pieces on offer have been created by artists from the Papunya Tula Aboriginal Art Movement including Clifford Possum Tjapaltjarri, who’s work ‘Warlugulong’ sold at auction for AUD$2.4 million, as well as Emily Kame Kngwarreye and Michael Nelson Tjakamarra.

 

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