Sotheby's has become the first major auction house to introduce cryptocurrencies as a payment method for physical artworks, following its prior sales with digital NFT art last month, Report informs, citing CNN.
"Love is in the Air" (2003), one of street artist Banksy's most recognizable works, is the first piece that Sotheby's will make eligible for purchase via either Bitcoin or Ether. It's estimated to sell for $3 million to $5 million (between 35 and 53 Bitcoin) when it goes up for auction May 12 in New York.
In a press statement, Sotheby's said it hopes that by launching its adoption of cryptocurrency with "Love is in the Air," they honor Banksy's legacy by uniting "the biggest disruptor in finance with one of the most notable disruptors in the art world."