DRIFT, Block Universe (2021). © DRIFT. Courtesy of Pace Gallery.
Pace has been perhaps the most fervent embracer of crypto-art of all the blue-chip galleries. In July, it announced plans to launch a new platform for NFTs, and planted a flag in the nascent space by hosting digital projects on its website. (It accepted cryptocurrency for all sales.)
But an ethical question caught up with the gallery’s president and CEO, Marc Glimcher, who decided to delay the rollout. “Is this continuing to turn our artists into the creators of financial instruments?” he said.