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ARTFORUM: NADA’S NEW PROFIT-SHARING DIGITAL ART FAIR TO LAUNCH NEXT WEEK

The New Art Dealers Alliance (NADA) announced on Thursday that it plans to launch a new digital art fair to support member galleries who have been impacted by Covid-19. Titled “FAIR,” the online initiative will boast of a profit-sharing model designed to give participants who have recently experienced revenue loss due to the closure of their physical locations a financial boost. Kicking off next week, FAIR will run from May 20 through June 21.

Among the nearly two-hundred galleries participating in the event are A.I.R. Gallery, Fridman Gallery, Sargent’s Daughters, Queer Thoughts, and Rachel Uffner—which are all based in New York—Chicken Coop Contemporary (Portland), DOCUMENT (Chicago), The Green Gallery (Milwaukee), Library Street Collective (Detroit), and OCHI PROJECTS (Los Angeles). International exhibitors include the Galerie Rolando Anselmi (Berlin), Bradley Ertaskiran (Montreal), Daniela Elbahara (Mexico City), Édouard Montassut (Paris), i8 (Reykjavik), LETO (Warsaw), Tif Sigfrids (Athens), and XYZcollective (Tokyo).

“FAIR is NADA’s response to the current situation, in line with our commitment to supporting a global community of galleries and artists,” said NADA executive director Heather Hubbs. “While many of these art spaces have been temporarily closed to the public, this new model provides an opportunity to showcase the best of contemporary art, while demonstrating our collaborative spirit and fostering mutual support for one another.”

The virtual co-op will allow galleries and their artists to keep 50 percent of the profits from each sale. Twenty percent of the sale will go into a community pool that will be shared evenly among the exhibitors; an additional 20 percent will go into a pot that will be divided among the participating artists; and 10 percent will go towards NADA for its time organizing and producing FAIR.

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