“Salon was built to subvert the art market’s exclusionary tactics and spin them to our members’ advantage,” says entrepreneur Jordan Huelskamp of the company she founded in January. Marrying the traditional art industry with blockchain technology to leverage the benefits of decentralization and make collecting more accessible, Salon is the first decentralized art fund for the contemporary, physical art market. Structured as a hybrid DAO-LLC, a decentralized autonomous organization wrapped in a legal entity, Salon members acquire artworks as a collective; however, unlike many DAO participants, they are not anonymous. Instead, they share knowledge and expertise, acting like a traditional museum collectors committee. While a museum typically keeps most of its art in storage, Salon’s collection is housed in its members’ homes, cutting overhead costs and allowing them to live with their investments.
With Decentralized Art Fund Salon, Physical Art Collecting Meets the Blockchain for the First Time
A new decentralized autonomous organization allows members to collect art as a community online—and live with it in real life.