For the first time, the Ethereum cryptocurrency will be used for bidding during the auction in real-time. Learn how to trade Ethereum here: https://www.bti.live/bitsoft360/
Sotheby’s auction house announced the sale of two paintings by the street artist Banksy for cryptocurrency – Love Is In The Air, one of his most famous works, and Trolley Hunters.
Sotheby’s has become the first auction house to use cryptocurrency as a standard payment method for bidding on physical works of art in real-time during live auctions. This is stated in the statement of the auction house, which Forbes refers to.
The auction will take place on November 18 and will be broadcast on Sotheby’s resources, in particular with the help of Discord, a messenger for organizing voice messages and video conferences.
According to HypeArt, “Love Is In The Air” is expected to sell for $4-6 million, and “Trolley Hunters” for $5-7 million.
Sotheby’s has already held an auction that involved cryptocurrency. In May, the house sold Banksy’s “Love Is In The Air” for $12.9 million, the painting becoming the first physical artwork sold by a major auction house for cryptocurrency. The latter, however, was then used only as a method of payment, trades were held in dollars.
Banksy created the graffiti Love Is In The Air, which depicts a protester throwing a bouquet of flowers, in 2003 in Bethlehem after the construction of the wall separating Israel from the West Bank. In the graffiti, Trolley Hunters are cavemen who hunt supermarket trolleys.
Earlier, a Banksy painting self-destructed after it was sold for $1.4 million.
