On Samsung TV screens, the Quantus Gallery in Spitalfields, London, is exhibiting NFTs from Pierre Benjamin’s Crypto Stars collection.
Josh Sandhu made his first non-fungible token (NFT) investment in December 2019, when he purchased a collection of collectible digital artworks. Sandhu’s holdings had increased in value 75-fold in less than two years, enabling the graphic designer turned NFT collector to cash out and buy his first house.
The 31-year-old art collector now wants to help other investors in replicating his achievement.
“I was lucky to get in early,” Sandhu said, saying that he started investing in bitcoin in 2012. “You must be physically there in the scenario. If you are not, you will lose out on a lot of opportunities.”
Sandhu is one of three co-founders of Quantus Gallery, a non-profit art gallery and advisory service in Spitalfields, London, set to launch later this month. Grove Square Galleries, a traditional gallery specialized in contemporary art, is managed by co-founder James Ryan, while co-founder Ryan Marsh has an investment background.
The film ‘Wild West’ is set in the American West.
Following an increase in demand in the space last year, the decision was taken to build a true art gallery for NFTs. At the start of 2021, only a few crypto enthusiasts were aware of NFTs. By the beginning of 2022, the industry had grown to a $40 billion sector, rivaling the traditional art business, which generated $50 billion in sales in 2020.
“This is a blossoming sector,” Sandhu said. “There is so much talent there.” Sandhu is developing Europe’s first NFT advisory to help investors in navigating the risks associated with digital art.
Despite the enthusiasm, investing in NFTs is a risky business, with theft and fraud common in uncontrolled online marketplaces. Last year, a British art buyer paid a hacker £244k for a claimed Banksy NFT after the artist’s official website gave a bogus auction link.