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5/4, 2:24 PM (Source: TeleTrader)
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Sotheby's partners Coinbase to accept crypto payments

Auction house Sotheby's has partnered with Coinbase Commerce to start accepting payments in cryptocurrencies, Coinbase announced on Tuesday.

The first artwork available for purchase in Bitcoin and Ethereum will be Banksy's Love is in the Air image at Sotheby's Contemporary Art Evening Auction.

"Through a bespoke solution, Coinbase will support payment estimated in the eight-figure range on Sotheby’s website, and in addition will help manage price fluctuations," Coinbase said in a blog post. "The May 12th auction will be conducted in US dollars, but the buyer and artist will have the option to transact in either crypto or fiat currencies," the company added.

Breaking the News / NP