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Auction giant Sotheby’s to accept BTC and ETH as payment via Coinbase

May 4, 2021. Summarized by summa-bot.

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Sotheby’s, one of the world’s oldest and biggest auction houses, will be accepting Bitcoin and Ether payments at an upcoming Banksy auction.

Sotheby’s, one of the world’s oldest and biggest auction houses, has announced that it will be accepting major cryptocurrencies as a new payment method at an upcoming auction.

Sotheby’s CEO Charles Stewart said that the company will debut Bitcoin (BTC) and Ether (ETH) payments as part of its upcoming auction of Banksy’s "Love is in the Air. " The new payment method will be facilitated in partnership with United States’ largest cryptocurrency exchange, Coinbase, noted Stewart in a Tuesday interview with CNBC's Squawk Box.

The work will be offered in Sotheby’s Contemporary Art Evening Auction on May 12 in New York, Esquire reported.

In February, British auction house Christie’s announced an NFT auction of Mike Winkelmann’s digital artwork “Everydays: The First 5000 Days. ” The auction eventually resulted in a record-setting NFT sale, netting nearly $70 million.

by summa-bot

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