HomeSotheby’s to Hold Real-Time Bidding on ETH for Banksy Art Auction

Sotheby’s to Hold Real-Time Bidding on ETH for Banksy Art Auction

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Historical art auction house Sotheby’s announced Thursday that it will bid in real time on ETH for its upcoming auction of Banksy paintings.

The auction, called “The Now,” will take place on November 18 and consist of Banksy’s Trolley Hunters and Love in the Air artwork. As of publication, the cost of the paintings is estimated at $5-7 million and $4-6 million, respectively, in US dollars.

Sotheby’s will also hold its auction at its digital headquarters in Decentraland, a global virtual platform, CoinDesk reports.

Sotheby’s has started accepting admissions for the first time cryptocurrency as a payment method In May this year in cooperation with crypto exchange Coinbase, The Block previously reported.

However, the auction of “The Now” appears to be the first time that the 277-year-old art house has prioritized cryptocurrency as a payment method over fiat currency.

In addition to embracing crypto, Sotheby’s has branched out into non-fungible tokens (NFTs) this year with its auctions. bored monkeys And Kryptoponics – In addition to launching its own coordinated NFT platform called “Sotheby’s MetaverseOn October 14.

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