Reading time: ~2 m
One of the leading auction houses Phillips will accept bitcoin and Ethereum as payment for the work of the artist Jean-Michel Basquiat.
In May, Phillips will auction Basquiat’s “Untitled”, which was painted in 1982 in Italy. In 2017, the work of Jean-Michel was sold for a record $110.5 million for an American painter.
Painting “Untitled” by Basquiat
Interest in cryptocurrencies and NFTs from representatives of traditional art is growing rapidly. It is currently impossible to predict the future, but we believe that digital and traditional art will increasingly intersect,” said Scott Nussbaum, senior specialist at Phillips.
Phillips is not the only auction house that supports digital assets. Last year, Christie’s auctioned off an NFT from the HUMAN ONE collection by artist Beeple. And Sotheby’s accepted bets in Ethereum (ETH) for the purchase of works by Banksy Trolley Hunters and Love Is In The Air.
#Basquiats #piece #auctioned #bitcoin #Ethereum
