Auctioneer willing to sell $70M artwork for BTC or ETH
A leading U.S. auction house, Phillips is auctioning a Baqueirat collection in May. Accepted payment options include Bitcoin and Ether. In further signs of crypto adoption among the art world, a leading United States auction house will accept crypto as payment for a series of paintings. A Jean-Michel Basquiat collection is up for auction by Phillips, with Bitcoin (BTC) and Ethereum (ETH) listed as payment options.The showstopper 16-foot painting, Untitled, 1982, is “estimated in the region of $70 million” (roughly 1650 BTC or 25,513 ETH). It will go under the hammer in New York on May....
Related News
On Friday, coinciding with the Summer Olympics opening ceremony, Muhammad Ali Enterprises and the fine auction house Sotheby’s will be auctioning a non-fungible token (NFT) that features a never-before-seen piece of original artwork created by Muhammad Ali. According to the announcement the digitized NFT artwork depicts Ali’s interpretation of the infamous 1971 ‘Fight of the Century.’ Luxury Auction House Unveils the Olympic Collection Featuring a Rare Muhammad Ali Piece of Digital Art This week Sotheby’s and Muhammad Ali Enterprises, the owner of all....
Artwork inspired by Bitcoin carries an essence of beauty created by the technological revolution at hand.
The non-fungible token-based artwork market witnessed a profitable end of 2020 with astonishing trading volume figures monthly compared to those seen during November. Metrics Show $8.2 Million Worth of Crypto Artwork Sold in December According to metrics revealed by Nonfungible.com, the volume in December of NFT artworks sold was $8,681,242.59, surpassing by far the $2.6 million traded over November 2020, according to the platform Cryptoart.io, almost triplicating the numbers. The considerable surge comes within the context of a too-bullish crypto market in the last quarter of 2020, but....
Non-fungible tokens (NFTs) have revolutionized the art world in 2021. The market has seen groundbreaking sales, with collectors having spent over $2 billion on NFTs in the past month alone, compared to only $250 million in the entire year of 2020, according to NonFungible.com. The staggering statistic can, in part, be attributed to artists like Beeple making record-breaking sales this year, when the artist sold a singular artwork for $69 million at Christies, the third-highest price of art on record. By definition, NFTs are digital files that provide buyers with proof of ownership and....
Gold is beginning to become less efficient as a global safe haven asset. On November 22, a man in Normandy, France discovered 100 kilograms of gold worth US$3.7 million in a house inherited from its previous owners. Nicolas Fierfort, auctioneer at the Evereux mansion de ventes, stated that over 5,000 gold pieces were hidden under furnitures, which were legally obtained and acquired in the 1950s and 1960s. “There were 5,000 gold pieces, two 12-kilo gold bars and 37 ingots each weighing one kilo,” said Fierfort. “It was extremely well hidden – under furniture, under piles of linen, in the....