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ARTICLE · 19 MAY 2021

Auction House Embraces Cryptocurrencies, NFT Sales Continue

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Recent reports indicate that the art and entertainment industries continue to embrace blockchain and cryptocurrencies.

United StatesTechnology
Keith R. Murphy
Keith R. Murphy
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Recent reports indicate that the art and entertainment industries continue to embrace blockchain and cryptocurrencies. A major auction house has announced that it will begin accepting bitcoin and ether as a means of payment for an upcoming auction involving a painting by the artist Banksy, according to a recent report. The auction house is partnering with a major U.S. cryptocurrency exchange to enable the new payment method.

In one of the latest non-fungible token (NFT) events, based on several reports, from May 6 to May 20 an NFT studio plans to auction three rare NBA Top Shot NFTs as a set featuring a renowned basketball player. One of the NFTs reportedly holds the record for the most expensive Top Shot moment sold to date.

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