Michael Caine has dubbed Lincoln Townley as the next Andy Warhol

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The London and LA-based artist, dubbed by Michael Caine as “the next Andy Warhol,” snubs traditional galleries and auction houses by selling his work through WhatsApp and other social media channels to collectors all over the world, some of whom do not see the work in the flesh until after they purchase it. In another unusual step, the majority of the self-taught artist’s sales are conducted digitally, with a preferred payment in cryptocurrency. Mr Townley, whose latest collection, Behind the Mask, will exhibit at the prestigious Biennale di Venezia (Venice Biennale) on The Grand Canal next spring, believes artists should be looking for innovative ways to sell their work. Speaking exclusively to Express.co.uk, he said: “I’m always looking at ways to do things differently in my route to market.

“There is no two ways about it. The people who invest in Bitcoin are without doubt speculators - they are looking at something with more of a risk. “But that’s why I thought to myself, these are the sort of people that would be interested in purchasing my art as an extension to their investment portfolio.” He added: “The best thing is it fuels my belief that galleries are secondary to an artist’s success - they just need to look at galleries as another string to their bow. “There are so many other ways to get sales with technology.”

Hollywood superstar Samuel L Jackson is also a collector of Townley's work

Mr Townley says his Behind the Mask collection is inspired by the insanity of mankind

Mr Townley claims he is “shaking up the art world” by building an entire community of digital buyers who contact him directly using social media, waiving the need for galleries by cutting out the “middle-man” in the transaction. The London-born artist revealed some cryptocurrency enthusiasts were already art collectors, but those he found were most interested were those who were looking for a tangible way to diversify their digital investment portfolio. He said: “They are looking for a tangible asset they can put this newfound currency into.” Referring to the network cryptocurrency has brought about, the club promoter turned artist explained a "crypto-community" surrounding the financial technology excited people.

Al Pacino is one of Lincoln Townley's most high-profile collectors

Lincoln Townley sold an entire collection of art in a single weekend for cryptocurrency

Bitcoin is currently the most well-established cryptocurrency, with one Bitcoin equalling £5,350 (correct at the time of publication). But the currency is subject to the ebb and flow of market conditions and has seen huge fluctuations in value over the past few years, sparking fears from some analysts that the digital commodity is set to enter the history books as one of the world’s biggest bubbles. After an almost 60-fold increase over the past three years to just more than £15,300 in December, Bitcoin has tumbled by about 70 percent from its peak on concern that regulatory and security hurdles will prevent widespread adoption. Of cryptocurrency’s volatile value, Yves Mersch, a member of the European Central Bank’s executive board, said: “At these speeds, if you bought a bunch of tulips with Bitcoin they may well have wilted by the time the transaction was confirmed.”

Ewan McGregor beside his Townley portrait from the ICONS collection

Townley's work is about what we are willing to go through to succeed

Townley in the studio, from where he sells most of his work himself