Sotheby’s will accept for the first time live offers on ethereum in the sale of two physical works by Banksy, which it will offer up for auction next Thursday. These are two of the Bristol painter’s most iconic paintings: “Trolley Hunters” and “Love is in the Air.” Precisely, the historic London auction house already announced last May that it would accept bitcoin and ethereum in the “Love is in the Air” auction. It was the first time that a physical work of art could be purchased with fiat money and cryptocurrencies at Sotheby’s. On this occasion, the auction house will accept the offers on live ethereum.
Sotheby’s and Banksy’s ethereum auction
Sothebys overtakes rival Christies and opens headquarters in the Decentraland metaverse
The sale of “Love is in the Air” was the second that took place with cryptocurrencies in the popular auction house. The first was carried out with the collection of NFTs of the artist Pak, where more than 3,000 collectors participated.
Banksy, ETH meet LIVE in historic auction first 💎 Sotheby’s will field real-time bids in $ ETH for Banksy’s iconic paintings Trolley Hunters and Love is in the Air in The Now sale next Thursday. #SothebysNow https://t.co/yjTRC7Sdhr
— Sotheby’s (@Sothebys) November 11, 2021
Sothebys entered the crypto industry at the hands of digital artist Pak last March, just days after its competitor Christies will auction “Everydays: the first 5000 days” for almost $ 70 million. Since then, its activity in the applications facilitated by cryptocurrency technology has been incessant. First Decentraland opened in the metaverse a replica of his iconic London gallery on New Bond Street.
Sotheby’s accepts payments with bitcoin and ethereum in the sale of a Banksy
In September auctioned a Bored Ape Yacht Club 1o1 NFT collection for $ 24.39 million. Shortly after, in October, launched the Sotheby’s Metaverse market. The company launched its NFTs platform with the sale of a single monkey, # 8817, for $ 3.4 million.
#AuctionUpdate #BAYC #8817 sells for a RECORD $3,408,000 USD! This is the first time it has been made available since it was minted. Less than 1% of all Bored Apes have the gold fur trait. From the collection of @j1mmyeth #NativelyDigital pic.twitter.com/HfFTpEOIUh
— Sotheby’s Metaverse (@Sothebysverse) October 26, 2021
Sothebys joins Pak, an anonymous AI-linked artist, to sell NFTs
Miche Bouhanna, specialist and head of sales at Sotheby’s, the incredible potential of NFTs and metaverses. In this sense, it indicates that they see spaces such as Decentraland as the next frontier of digital art, where artists, collectors and viewers can interact with each other from anywhere in the world.