[1] 126 was founded in 2005 by artists Austin Ivers and Ben Geoghegan in the living room of their home in Galway.

[4] After, in late 2006, the gallery moved to a white cube space in an industrial estate outside of Galway City showing the work of Benjamin de Burca for the Tulca Festival of Visual Arts.

"The new gallery aims to provide a venue for younger, emerging artists, thus fulfilling an obvious need" and was considered "tremendously innovative" by The Irish Times art critic Aidan Dunne.

[12][13] Since, the gallery has experienced several struggles for survival in its bids for consistent funding from both local authorities and the Arts Council of Ireland.

Some of those include: Aideen Barry, Vivienne Dick, Hank Willis Thomas, Rainer Ganahl, Niall De Buitlear, Jim Ricks, Kelly Richardson, Samara Halperin, Stephanie Syjuco, Ceara Conway, Diana Copperwhite, Sylvère Lotringer, Ormston House, Transmission Gallery, and Catalyst Arts.