Pace Gallery Reveals Long-Term Commitment to NFTs With Palm NFT Studio Partnership

complex image with wavy and jagged lines in the background and a figure-like abstract image w/outstretched armsThe Partnership Previews With A Genesis Drop Today By Pioneering Digital Artist Lucas Samaras, With Whitelist Opportunity for Inaugural Exhibition This Fall

Wednesday, September 15, 2021 — Pace Gallery will be debuting a new NFT platform this fall built in collaboration with Palm NFT Studio. This partnership represents a reimagination of how art galleries can work online; championing creative futures and sustainable NFT technology.

Pace’s platform will host NFTs created by influential contemporary artists represented by the gallery as well as selected projects from outside of the gallery’s program, and will offer artists more control over the look and feel of how their NFTs are presented within a curated digital framework. The new platform will be accessible via the Pace website (pacegallery.com).

At the core of the initiative is a commitment to creative sustainability. The Pace NFT platform is designed to remove barriers for artists, with free project minting. It’s designed to be low-impact, built on Palm technology that provides a 99.99% reduction in energy consumption versus Proof of Work systems. And it’s designed to be frictionless for collectors, with full Ethereum compatibility.

Preceding the launch of Pace’s official platform later this fall, Pace and Palm are releasing two NFTs today by digital art pioneer Lucas Samaras via Known Origin. The one-of-one digital and physical print editions in the genesis drop relate to iconic works from Samaras’ XYZ series, created between 2010-2012. For Samaras, NFTs represent an opportunity to present his work with fidelity for the first time; remaining true to their native digital formats in circulation, and in exhibition.

Now in his 80s, Samaras has consistently employed the latest technological advancements in his art-making; as early as the 1970s, he was manipulating the wet-dye emulsions of Polaroids with his finger or a stylus before the chemicals set. After purchasing his first computer in 1996, Samaras began making innovations in the digital art space, eventually using Photoshop to create psychedelic compositions, including distorted self-portraits and cityscapes.

Following September’s genesis drop, Pace’s NFT platform will launch with a landmark series from Samaras, priced starting at $10,000. Each print in the XYZ genesis drop will include a QR code that gives the owner unique access to an embedded essay from Samaras; purchase of each 1:1 will automatically whitelist the buyer for the drop on the Pace NFT Platform later this fall. In some cases, digital prints will be offered as physical tokens with purchase.

Pace has always held innovation as a core value. As early adopters to the tech space from within the art world, the development of the NFT platform is in line with Pace’s long history of supporting avant-garde artists that have come to be celebrated as the mainstream, from movements like Abstract Expressionism and Light and Space to artists ranging from Mark Rothko to James Turrell. Pace has earned a reputation as a tech-forward gallery through operating a gallery in Palo Alto; working with artists whose practice centers around digital media, such as teamLab, DRIFT, and Random International; and becoming the first gallery of its scale to accept cryptocurrency for both physical works and NFTs. The creation of its own NFT platform represents a sustained commitment to blockchain innovation in the arts.

Marc Glimcher, CEO of Pace Gallery, says: “We have been interested in creating a dedicated NFT platform for Pace since our artists became curious about making NFTs, and we first began supporting their NFT projects with other platforms. Our philosophy is to build the tools our artists need. We are thrilled to continue our foray into the NFT space with Palm, whose technical capabilities and track record with flagship artist projects are unparalleled. The environmental impact of NFTs was front of mind when considering a potential platform, and we are proud of the commitment Palm is making towards a sustainable blockchain. We hope Pace’s role in the community will be to create a symbiotic infrastructure where the art world and NFT world can meet.”

“Pace has been at the forefront of art and culture for decades, and their commitment to the NFT space sends a signal that there’s a home for artists on blockchain both now and into the future,” shared PalmCo-Founder and Palm NFT Studio CEO Dan Heyman. “We built Palm’s sustainable and scalable infrastructure so that as organizations like Pace grow they only have to think about how blockchain can amplify creativity, not their environmental impact or gas fees.”

From shining a light on pioneering digital voices to developing a sustainable NFT marketplace, Pace is dedicated to championing the blockchain arts.

For more information and updates, visit PaceGallery.com.

NFT News Wire