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Sotheby’s Plans To Take ETH Real Time Bids For Banksy auction

Prestigious auction house Sotheby’s reveals plans accept Ethereum (ETH) bids in real time for its Nov. 18 auction. Which of course, will includes works by popular street artist Banksy.

Furthermore, Sotheby’s affirms this will be the first time an auction house will accept crypto in real time. Of course, as a standard currency for payment in an auction on a physical work of art.
More so, The auction is titled ‘The Now Evening Auction’ which features Banksy’s Trolley Hunters and Love Is In The Air.

Also, while the bidding prices will be in ETH, winning bidders can pay pay for the works in either Ether, Bitcoin (BTC) or USD Coin (USDC).

Moreover, Sotheby’s first kicks off accepting BTC and ETH as payment back in May, that’s for a different Banksy auction.
Technically, It financially shows supports for NFT projects, including getting seed funding for NFT studio. Then, also for blockchain tech platform Mojito.

Thereby, It goes on to also launch a Metaverse NFT platform with Pranksy, PleasrDAO, Paris Hilton, and others as curators in October.

Additionally, Sotheby’s is not the only auction houses in crypto and blockchain.

Furthermore, a rival auction house Christie’s also is the first to accept ETH as payment in a CryptoPunks auction last May.

Notably, Christie’s is popular for auctioning off Beeple’s The First 5000 Days for over $69 million.

Lastly, The Phillips auction house also accepts ETH and BTC in its auction for Banksy’s Laugh Now Panel A, seeking for over $3 million last June.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.