Auction house Sotheby's will accept cryptocurrency as payment for Banksy's painting "Love is in the Air"air" (“Love Is in the Air”). Sotheby's CEO Charles Stewart announced this on CNBC.
To accept payments in digital currency, the company entered into a partnership agreement with the crypto exchange Coinbase
According to him, this is the first physical lot thatwill be sold by an auction house for digital currency. To accept cryptocurrency payments, Sotheby's has entered into a partnership agreement with the Coinbase crypto exchange.
Sotheby's will accept cryptocurrency via $COIN for Banksy's "Love is in the Air" at auction.
"It's something we have been thinkingabout for quite some time," says CEO Charles Stewart. "What better combination to introduce crypto than an iconic Banksy painting." pic.twitter.com/4ZbYhtugaO
— Squawk Box (@SquawkCNBC) May 4, 2021
“What better way to represent cryptocurrency than the iconic Banksy painting,” said Sotheby’s CEO.
The auction house sold last month fora cryptocurrency collection of NFT tokens tied to the works of the anonymous digital artist PAK. In just two days, tokens worth $ 16.8 million were sold. The sale of NFT took place in cooperation with the Nifty Gateway marketplace.
Sotheby's is one of the world's largest and oldest auction houses, which was founded in 1744. The bulk of the auction house's lots are luxury items and art.
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