Sotheby’s Auction Introduces Cryptocurrency Payment For The First Time

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The British artist Banksy’s Love is in the Air, exhibited at Sotheby’s in New York, will be available for the first time in the history of trading with cryptocurrency. This was reported on the auction website.

According to the organizers, the picture is estimated from $ 3 million to $ 5 million. At the same time, it will be possible to pay for it with Bitcoin or Ethereum cryptocurrencies. However, bets will continue to be in dollar terms. Bidding is scheduled for May 12th.

“This characteristic innovation, paving the way for the further use of cryptocurrencies at Sotheby’s auctions, was a continuation of the auction house’s experiments with the use of new technologies,” – said in a press release from Sotheby’s.

The Banksy painting up for auction is a 90 x 90 cm canvas signed by the artist himself. A protester throwing a bouquet of flowers is depicted on canvas in oil paints.

On May 4, it became known that the co-founder of the blockchain platform and digital currency Ethereum Vitalik Buterin became the youngest cryptocurrency billionaire in the world. According to Forbes, the fortune of the 27-year-old native of Russia reached $ 1.09 billion after the token price exceeded $ 3 thousand for the first time.

Earlier, on April 26, it was reported that the sneakers of the American rapper Kanye West were sold at the Sotheby’s auction for a record $ 1.8 million.