Sotheby’s accepts cryptocurrency as Banksy art sells for $12.9M

It is the first piece of physical art sold by a major auction house paid for using crypto

Bitcoin and Ether were the chosen cryptocurrencies for payment on a physical work of art at the auction house.

Sotheby’s, thanks to an agreement with Coinbase, one of the largest cryptocurrency exchange platforms in the world, announces the new cryptocurrency payment option for one of the works of the most revolutionary artist of our days: Banksy.

“Love is in The Air” by the mysterious street artist sold for $12.9M making it the third highest price paid for a Banksy at auction.

The acceptance of cryptocurrencies has gained momentum in the art world. No doubt this is the start of of something new for auction houses around the world to be part of, as more and more people turn to digital currencies.