FOR IMMEDIATE RELEASE:
Hong Kong Artist, Norm Yip is Now Accepting Bitcoin as Preferred Currency
Hong Kong, 02 January 2018. Norm Yip is an independent artist that has fully adopted the use of Bitcoin, a cryptocurrency, as his preferred currency for his artwork.
Norm Yip heard about Bitcoin approximately five years ago, believing it was a pseudo-currency that would never make it into the market. At best, reports about Bitcoin seemed polarised at both extremes. Things began to change however when he learned about the Blockchain and how it could be used to provide authentication for artwork.
Norm explains, “It was not until I learned about the Blockchain (not the company) technology of a distributed non-centralised ledger that I become deeply interested. It opened my eyes completely to the architecture and of how Bitcoin was only an application utilizing this new technology. It seemed revolutionary”. Norm was interested in seeing how startup companies such as Ascribe, Tagsmart, and Verisart was using it to create Certificates of Authenticity for artwork. “I am currently in the process of documenting all my paintings and drawings using one of the companies mentioned, but I haven’t decided which one best suits my needs’, Norm says.
With the above knowledge and added fuel of Bitcoin’s price rising to enormous heights in 2017, Norm’s attention moved in another direction, which was Bitcoin and Ether, as an accepted currency for his artwork besides Fiat currency. Norm is not the first artist or gallery to take hold of the new technology. Art-related websites including Artforcrypto, Dadiani Fine Arts, and Maecenas all are using the Blockchain in business. Yip believes that as more people begin to understand Blockchain, the underlying architecture to cryptocurrency, there will be greater acceptance. As Bitcoin advocate and entrepreneur Andreas Antonopoulos said ‘Bitcoin is the internet of currency’.
As an incentive, he is offering a reduced price of up to 20% off the list price on artworks to those that pay in Bitcoin or Ether over Fiat currency. Norm Yip’s artwork is suitable for both fine art collectors looking for investment reasons and commercial businesses that require artwork to enhance their offices.
About the Artist
Norm Yip is a visual artist working in the three mediums of painting, drawing, and photography. He is a Canadian born Chinese living and working in Hong Kong, He has photographed Zhang Yimou, JLo, Ricky Martin and Rain and has published several photography books entitled ‘The Asian Male’.