- Sotheby officially starts bidding prices in ETH.
- ETH followed by BTC and USDC are the preferred cryptos for payments.
- Sotheby is the first to start actual bidding in cryptos.
The Sotheby arts company is the world’s largest auction house of all sorts of physical art works, jewelleries and much more. Besides being headquartered in New York, it actually originates from Britain. Moreover now, it’s spread all across the globe becoming the largest auction house ever.
As a step towards the future, Sotheby now incorporates the cryptocurrencies in a more authentic way possible. Adopting to the current trend is obviously the only way to sustain predominantly in a business.
In such terms, Sotheby now starts it’s biddings for the auctions in price of Ethereum (ETH).
Sotheby’s ETH biddings
Sotheby, the world leading auction house officially announces that it will start its bidding prices in ETH. Also, this is to be implemented from November 18, for the auction of art works done by the famous street artist, Banksy.
In spite of all this, now Sotheby is the world’s first auction house to make bids with cryptocurrencies, profusely ETH as of now.
Apart from this, the injection of crypto into Sotheby has been already done, as Sotheby started accepting payments for the auctions in cryptos such as Bitcoin (BTC), ETH and also USDC.
Since May 2021, Sotheby has been accepting such crypto payments. In addition to this, Sotheby alos indulges itself into other attributes of the blockchain technology such as the Non-Fungible-Token (NFT).
Other Auction Houses
Apart from Sotheby, there are many other auction houses which have incorporated blockchain and crypto into themselves.
Accordingly, the Christie’s auction house became the very first auction house to accept payments in crypotos.Also, this was first done in May 2021, during the auction of Beeple’s work, The First 5000 Days.
The next to follow this is the Phillips auction house, which started accepting payments in both BTC and ETH.
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