Home Listing method Ethereum becomes ‘first-class currency’ at Sotheby’s auction for Banksy

Ethereum becomes ‘first-class currency’ at Sotheby’s auction for Banksy

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For the first time, Ethereum was listed as a payment option on Sotheby’s price table during the auction of two paintings by Banksy.

While the auction house has been accepting cryptocurrency payments since May of this year, it was the first time that ETH was both listed as a top-class currency and used as a form of payment.

Banksy’s legendary coins put Ethereum on the map at Sotheby’s

Two legendary Banksy paintings, “Trolley Hunters” and “Love Is In The Air,” were purchased with Ethereum at Sotheby’s this Friday. And while large art purchases made with cryptocurrencies have long ceased to be news, Banksy’s latest auction was rather unique.

It was the first time that Sotheby’s, the 250-year-old Anglo-American auction house, accepted Ethereum (ETH) as a form of payment. The company officially started accepting cryptocurrency payments in May of this year, but the Banksy auction was the first time ETH had been used in an auction.

Sotheby's Ethereum auction
Screenshot of the Sotheby’s price table during the Banksy auction of November 18, 2021 (Source: Twitter)

Sotheby’s also made history by listing ETH as the official payment method on the auction price chart, with the cryptocurrency joining the ranks of the USD, EUR, GBP, HKD and other fiat currencies. The two pieces, entitled “Trolley Hunters” and “Love Is In The Air”, sold for 1,696 ETH ($ 6,698,400) and 1,397 ETH ($ 8,077,200), respectively. The sale was part of the new “The evening auction” held on November 18, which featured 23 lots of contemporary works performed over the past 20 years.

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