Sotheby's will now accept cryptocurrency, starting with an auction for Banksy's 'Love is in the Air'

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© JUSTIN TALLIS/AFP via Getty Images Sotheby’s will now accept cryptocurrency, starting with an auction for Banksy’s ‘Love is in the Air’

  • Sotheby’s is accepting cryptocurrency for Bansky’s “Love is in the Air” in an upcoming auction.
  • The company said it would accept Bitcoin (BTC) and Ether (ETH) via Coinbase in exchange for the art.
  • The company said that the use of cryptocurrency could “expand our client base.”

Sotheby’s says that it will accept cryptocurrency for Bansky’s “Love is in the Air” artwork in an upcoming auction.

The company announced Tuesday it would accept Bitcoin (BTC) and Ether (ETH) via Coinbase in exchange for the artwork.

“With the growing adoption of digital art and NFTs, along with our increased focus on digital innovation, we’ve seen an increasing appetite among collectors for more seamless payment options when doing business with Sotheby’s,” Stefan Pepe, Sotheby’s chief technology officer, said in a statement.

“Leveraging the trusted exchange Coinbase is a natural progression and is in line with our dedication to enhancing our client buying experience and developing new ways to expand our client base by meeting them where they are,” he added.