As certain circles of the art world are trying to boost its inclusivity, the digital marketplace StockX has struck a partnership with the influential artist Daniel Arsham that includes a scholarship fund.
The news follows StockX’s decision to venture into art prints. As part of the alliance, StockX will be the official secondary marketplace for the New York City-based artist. Both parties have previously worked together and StockX recognized the influence Arsham carries in his visual art practice, as well as in his design, apparel design, architecture and other cultural elements, according to Tom Woodger, vice president of cultural marketing. ‘We ultimately decided on him because he is one of a handful of people that we truly feel are creating and moving culture, while also having a desire to be a true collaborator.”
Arsham was traveling Wednesday and could not be reached for comment. Having collaborated with the likes of Kim Jones, Pharrell Williams, Robert Wilson, the Merce Cunningham Dance Company and numerous others, Arsham has an international following. He is represented by Galerie Emmanuel Perrotin in Paris, Hong Kong, New York and Seoul, Arsham as well as Moran Bondaroff in Los Angeles, Baró Galeria in São Paulo, Pippy Houldsworth in London and Galerie Ron Mandos in Amsterdam.
The plan with StockX is to offer artwork as well as other items, which could mean apparel, sculpture, trading cards and other categories. The agreement is for a minimum of two years, said Woodger, adding that other larger initiatives like this are to come. StockX recently signed deals with the skater Robert Neal and one with Team Ignite of the National Basketball Association’s G League. All of the above illustrate how StockX is supporting an “overarching strategy of working in these passion points of sport, music, fashion and art,” Woodger said.
The Daniel Arsham x StockX Next Gen Scholarship Fund is geared for the next generation of artists at Arsham’s alma mater The Cooper Union for the Advancement of Science and Art. There, he received the Gilman Trust Fellowship Award in 2003. Several scholarships will be awarded through the new collaboration.
Architecture is a recurring component in a good amount of his work. Arsham founded the multidisciplinary practice Snarkitecture in 2007 with partner Alex Mustonen. More recently, Ashram teamed with Ikea for its annual art event this year.
Revenue that StockX makes from every Daniel Arsham art transaction will benefit the scholarship fund. The namesake artist will have an advisory role. Arsham will also release a series of work that will be offered exclusively on StockX. Proceeds from those sales will benefit the scholarship fund as well. Arsham will curate an annual charity program where he brings in friends and visual artists for a one-time sale. The aim is to raise “hundreds and hundreds of thousands,” Woodger said.
On another front, Arsham will curate a special DropX product release series to help new artists release products to a global customer base. They will also benefit financially. Under StockX’s format, artists share in the financial rewards from the official launch and every resale on the platform. The aim is to create a more equitable standard for revenue sharing.
In May, StockX’s first-quarter GMV growth increased 200 percent year-on-year for all non sneaker categories, Woodger said. In the first quarter of this year, the company had 30 million-plus visitors, he added. As part of the new arrangement, when a product on Arsham’s personal site sells out, shoppers will be routed to StockX. From StockX’s standpoint that is meant to open up participation in current culture, offer price transparency in regards to art prints and democratize a category that has been out of reach for many historically.