SOCIAL Launches Exclusive Physical Gallery For NFT Art In Bangalore

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Despite reports of the non-fungible token (NFT) market declining, SOCIAL has opened a dedicated physical gallery for NFT art on New BEL Road, Bangalore.

According to the coffee shop chain, the latest establishment, launched on January 14, is the first phase of its induction into the Web3 space. I would have a monthly curatorship of works of art. The inaugural exhibition, curated by digital artist Angad B Sodhi, is titled ‘Welcome to Web 3’. Featuring works by Bengaluru-based NFT artists including Prasad Bhat, Dr Wafu, AB Verse and more, it has been on display since January 23.

Mayank Bhatt, CEO of Empresario Handmade Restaurants, dismisses fears about the decline of the NFT market. “The NFT crash does not affect us in any way, as our decision to launch the NFT gallery was not commercial, but community driven.”

Angad sees this as the “real start for the NFT space” in India. “While Web2 was the start of the creator economy, a major problem was that the creator didn’t own what they put on the platform. Now, with web3, the creator not only owns the assets, but can also include royalty clauses, which is a game changer.”

Bangalore, he believes, is the most prominent city when it comes to Web3. “Most of the startups in the web3 ecosystem in India have been developed in Bangalore, making it an obvious choice for anyone in the NFT space. It has the largest population with a basic understanding of what NFT and Web3 is.”

About the inaugural curatorship, which will last for the next four weeks, Angad says that he wanted to tell a story through it. “We wanted people from the same city to see their fellow community members, who have made a name for themselves in the NFT space and gained popularity, show off their art. Since this was a completely new concept, bringing in local artists created a sense of belonging to the community.”

Customers can view the artwork on digital screens and also buy the ones they like. The outlet has been conceptualized as a meeting place for artists, creators and entrepreneurs. In addition to the space for art, the outlet also offers food and drinks.

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