Sotheby s says bidders can pay with Bitcoin and Ethereum for first time ever when it auctions Banksy artwork Love is in the Air for an estimated $3m-$5m
Sotheby s officials announced on Tuesday it would accept Bitcoin and Ethereum payments when it sells a copy of the Love is in the Air Banksy painting
The painting has a reserve price of $3m to $5 million, and is the first piece of auctioned fine art that can be paid for using cryptocurrencies
People will still be able to pay cash or cards for the painting, but Sotheby s boss Charles Stewart thinks offering crypto payments will expand their audience
As auctioneers and artists rush into NFTs, many collectors stay away
The artist Michah Dowbak, who goes by the name Mad Dog Jones. Speculative buyers are flocking to crypto art while blue-chip collectors are holding back, fearing legal gray areas and copyright issues. Via Phillips via The New York Times.
by Zachary Small
(NYT NEWS SERVICE)
.- A handful of auctions this month testing the appetite for a type of investment known as NFTs seemed likely to prolong the nascent fad for ownership of works that exist only in the digital world. Missing from those transactions, however, were the blue-chip collectors who typically drive the art markets sales.
›C for craze, C for concern: Worry over quality, ownership & authenticity is driving art collectors away from NFTs
C for craze, C for concern: Worry over quality, ownership & authenticity is driving art collectors away from NFTs
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C for craze, C for concern: Worry over quality, ownership & authenticity is driving art collectors away from NFTsBy Zachary Small, New York Times
Last Updated: Apr 29, 2021, 06:22 PM IST
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Synopsis
Industry experts have observed a growing wedge between a new generation of digital speculators and an older school of art collectors.
Reuters
More than a dozen collectors interviewed said that NFTs raise copyright and other issues that sellers and buyers have not fully thought through.
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Glorious weather helped an improvised beer garden set up at the home ground of a rugby league team enjoy a bumper first weekend. The site at Craven Park in Barrow – the home of Barrow Raiders – was bustling on Saturday as friends and family members relaxed in the April sunshine following the relaxation of coronavirus restrictions. The club organised the beer garden as an extra source of income following a year disrupted by the pandemic which saw their last season curtailed. Among those enjoying a drink with friends was Helen Parrott, who said: “It’s just nice to get together with the group in the sun and see everybody.