Sunday, June 13, 2021

“Love in the Air” is the first piece of artwork to be sold in cryptocurrency

Sotheby’s first allowed cryptocurrency as a way to pay for a work of art, as on Wednesday it sold a Banksy piece of art for $ 9.12 million.

The protest plaque “Love in the Air” showing a black and white masked figure standing ready to throw a batch of colorful flowers was sold after four bidders competed for 14 minutes, Sotheby’s tweeted.

The auction house has partnered with the cryptocurrency exchange “Coinbase” to accept Bitcoin and Ether as a method of payment.

Bids were placed in US dollars, but the buyer had the opportunity to pay using the cryptocurrency for the first time.

Sotheby’s said the sale paves the way for it to accept cryptocurrencies through its auctions and continues its experiments with new technologies.

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