Sotheby’s Will be Accepting Cryptocurrency in Upcoming 'Love Is in the Air' Banksy Auction

Uniting the biggest disruptors in finance and art.

NFT
3,276 Hypes 1 Comments

Sotheby’s has announced that it will be accepting Bitcoin (BTC) and Ethereum (ETH) payments in the upcoming Banksy art sale, paving the way for the use of cryptocurrency in the art world.

The auction house is no stranger to the world of crypto, as they organized non-fungible token (NFT) artist Pak’s The Fungible collection sale back in March. Due to indifference of the decision to accept digital currency, Sotheby’s stated in its announcement: “The pairing brings together the biggest disruptor in finance [cryptocurrency], with one of the most notable disruptors in the art world – Banksy.”

Banksy’s Love is in the Air painting is estimated at $3 million USD to $5 million USD and payments will be processed through Coinbase Commerce.

The art world has been slowly adopting the use of the blockchain as it delivers a way to conserve data immutably as well as to authenticate artwork. Rivaling auction house, Christie’s has also hopped on the wagon as it sold Everydays NFT by Beeple in March, followed by conducting sales for a series of Ethereum-based NFT artworks, called CryptoPunks.

In case you missed it, Joseph Lee animates impasto portraits in his first NFT collection.

Read Full Article

What to Read Next

Sotheby’s Will Auction Virgil Abloh’s “EFFLORESCENCE" Desk
Art

Sotheby’s Will Auction Virgil Abloh’s “EFFLORESCENCE" Desk

Proceeds will benefit The Virgil Abloh Foundation.

Off-White™ Is Now Accepting Cryptocurrency Payments
Fashion

Off-White™ Is Now Accepting Cryptocurrency Payments

Including Bitcoin, Ethereum, USD Coin and more.

Sotheby’s “Punk It!” Sale Withdrawn at the Last Minute
NFT

Sotheby’s “Punk It!” Sale Withdrawn at the Last Minute

The auction was initially estimated to bring in roughly $20-30m USD.


Gucci to Accept Crypto in Select U.S. Flagship Stores
Fashion

Gucci to Accept Crypto in Select U.S. Flagship Stores

With an expansion planned for all of its retail stores in North America

The Hundreds Join Forces With Lotería Don Clemente for a Cinco de Mayo Exclusive
Fashion

The Hundreds Join Forces With Lotería Don Clemente for a Cinco de Mayo Exclusive

Paying homage to years of family-rooted celebrations and household traditions.

SEEKINGS' Debut Collection Casts Julian Casablancas In Its Lookbook
Fashion

SEEKINGS' Debut Collection Casts Julian Casablancas In Its Lookbook

The former YEEZY art director presents his eponymous label.

DJ Khaled, Lil Baby, and Lil Durk Drop Hard-Hitting “Every Chance I Get” Music Video
Music

DJ Khaled, Lil Baby, and Lil Durk Drop Hard-Hitting “Every Chance I Get” Music Video

Another one.

Gorillaz Puts Its Unique Twist on Classic Fred Perry Garments
Fashion

Gorillaz Puts Its Unique Twist on Classic Fred Perry Garments

Featuring reworks of the classic Harrington Jacket and the epochal Polo Shirt.

adidas' 4DFWD Is the Next Step In Running
Footwear

adidas' 4DFWD Is the Next Step In Running

The new 4D sole unit will help push you forward to victory, all while offering more cushioning and a reduced peak braking force.


Lanvin Introduces New Colors of Skate-Inspired Curb Sneaker
Footwear

Lanvin Introduces New Colors of Skate-Inspired Curb Sneaker

A luxe take on a ’90s classic.

Can Rolex's New Explorer I Break the "Curse" of the Two-Tone?
Watches

Can Rolex's New Explorer I Break the "Curse" of the Two-Tone?

Three experts discuss why the gold/stainless steel combo is so underrated.

Hasbro Brought Back Its Kenner Rainbow Boba Fett Figure For 'Star Wars' Day
Toys

Hasbro Brought Back Its Kenner Rainbow Boba Fett Figure For 'Star Wars' Day

A legendary prototype for diehard fans.

Kawhi Leonard Announces New 'Culture Jam' Music Project
Music

Kawhi Leonard Announces New 'Culture Jam' Music Project

Teasing a NBA YoungBoy and Rod Wave collab.

Uber Partners With Arrival to Develop Electric Cars For the Ride-Hailing Industry
Automotive

Uber Partners With Arrival to Develop Electric Cars For the Ride-Hailing Industry

Looking begin production in late 2023.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Looks like you’re using an ad-blocker

We charge advertisers instead of our readers. Support us by whitelisting our site.

Whitelist Us

How to Whitelist Us

screenshot
  1. Click the AdBlock icon in the browser extension area in the upper right-hand corner.
  2. Under “Pause on this site” click “Always”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlock Plus icon in the browser extension area in the upper right-hand corner.
  2. Block ads on – This website” switch off the toggle to turn it from blue to gray.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlocker Ultimate icon in the browser extension area in the upper right-hand corner.
  2. Switch off the toggle to turn it from “Enabled on this site” to “Disabled on this site”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the Ghostery icon in the browser extension area in the upper right-hand corner.
  2. Click on the “Ad-Blocking” button at the bottom. It will turn gray and the text above will go from “ON” to “OFF”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the UBlock Origin icon in the browser extension area in the upper right-hand corner.
  2. Click on the large blue power icon at the top.
  3. When it turns gray, click the refresh icon that has appeared next to it or click the button below to continue.
screenshot
  1. Click the icon of the ad-blocker extension installed on your browser.You’ll usually find this icon in the upper right-hand corner of your screen. You may have more than one ad-blocker installed.
  2. Follow the instructions for disabling the ad blocker on the site you’re viewing.You may have to select a menu option or click a button.
  3. Refresh the page or click the button below to continue.