{"id":42425,"date":"2021-05-13T14:43:46","date_gmt":"2021-05-13T11:43:46","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=42425"},"modified":"2025-08-30T23:09:54","modified_gmt":"2025-08-30T20:09:54","slug":"banksys-work-sold-for-12-9-million-at-a-crypto-friendly-auction","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/banksys-work-sold-for-12-9-million-at-a-crypto-friendly-auction\/","title":{"rendered":"Banksy\u2019s work sold for $12.9 million at a crypto-friendly auction"},"content":{"rendered":"<p>Sotheby\u2019s sold Banksy\u2019s work &#8220;Love is in the Air&#8221; for $12.9 million. The auction house noted that this was its first experience organising sales of a physical artwork with the option to pay in cryptocurrency.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\"><a href=\\\"https:\/\/twitter.com\/hashtag\/AuctionUpdate?src=hash&#038;ref_src=twsrc%5Etfw\\\">#AuctionUpdate<\/a>: Following a 14-minute bidding battle between 4 bidders, Banksy\u2019s iconic protest image \u2018Love is in the Air\u2019 achieves $12.9 million. The sale marks the first time <a href=\\\"https:\/\/twitter.com\/hashtag\/cryptocurrency?src=hash&#038;ref_src=twsrc%5Etfw\\\">#cryptocurrency<\/a> was accepted as a payment option for a physical artwork. <a href=\\\"https:\/\/twitter.com\/hashtag\/Banksy?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Banksy<\/a> <a href=\\\"https:\/\/t.co\/uKIYeUu3IU\\\">pic.twitter.com\/uKIYeUu3IU<\/a><\/p>\n<p>\u2014 Sotheby&#8217;s (@Sothebys) <a href=\\\"https:\/\/twitter.com\/Sothebys\/status\/1392623279836389377?ref_src=twsrc%5Etfw\\\">May 12, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The Banksy painting was presented at Sotheby\u2019s Evening Sale of Contemporary Art. The event also featured Jean-Michel Basquiat\u2019s Versus Medici, which sold for nearly $51 million.<\/p>\n<p>\u201cLove is in the Air\u201d <a href=\"https:\/\/u1f987.com\/en\/news\/sothebys-to-auction-banksy-painting-love-is-in-the-air-for-bitcoin\">were preliminarily valued<\/a> at $3-5 million. Bids were accepted in US dollars, Bitcoin and Ethereum. Coinbase was the house&#8217;s partner.\u00a0<\/p>\n<p>For 14 minutes, four potential buyers contended for the painting. Organisers did not specify whether the auction winner paid in cryptocurrency or fiat.\u00a0<\/p>\n<p>In June, Sotheby\u2019s will auction <a href=\"https:\/\/u1f987.com\/en\/news\/sothebys-to-auction-one-of-the-oldest-nfts\">one of the oldest non-fungible tokens<\/a> (NFT) \u2014 Quantum by Kevin McCoy.<\/p>\n<p>In April, the organizers held their <a href=\"https:\/\/u1f987.com\/en\/news\/sothebys-to-hold-its-first-nft-auction-on-nifty-gateway-featuring-digital-cubes\">first NFT auction<\/a>. The event showcased works by the digital artist Murat Pak.<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sotheby\u2019s sold Banksy\u2019s Love is in the Air for $12.9 million. The auction house noted that this was its first experience selling a physical artwork with the option to pay in cryptocurrency.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[526,1331],"class_list":["post-42425","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-auction","tag-culture-and-art"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=42425"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42425\/revisions"}],"predecessor-version":[{"id":42426,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42425\/revisions\/42426"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=42425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=42425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=42425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}