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The auction house Phillips will release for sale a painting by artist Basquiat, which belonged to billionaire Yusaku Maezawa, valued at USD $70 million and accepts payments in Bitcoin and Ethereum.
Art and cryptocurrencies are becoming better friends every day. Major galleries and auction houses around the world are gradually accepting cryptocurrencies as a form of payment. Likewise, even the famousSotheby’s y Christie’s have auctioned tokens no fungibles, NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. at very high prices.
Now, the auction house Phillips, based in New York, is auctioning nothing less than a work by Jean-Michel Basquiat, the prominent New York artist of Puerto Rican and Haitian descent, well known in the 1980s for his neo-expressionist work.
Breaking in the world of cryptocurrencies, breaking the forward compatibility of cryptoassets is seen in hard forks of a cryptocurrency. news: Yusaku Maezawa, the billionaire who recently flew to the International Space Station, is sending one of his prized Jean-Michel Basquiat paintings to auction an auction is a public sale through a bidding process where an asset is sold to the highest bidder. for $70 million @phillipsauction
Breaking: Yusaku Maezawa, the billionaire who recently flew to the International Space Station, is sending one of his prized paintings by Jean-Michel Basquiat to auction for $70 million @phillipsauction @yousuck2020 https://t.co/sJsl64ZlEK via @WSJ
— Kelly Crow (@KellyCrowWSJ)February 28, 2022
In addition, as we see in the tweet, The story of the painting goes beyond the value of the painting and its artist: it belonged to billionaire Yusaku Maezawa, who recently traveled to the International Space Station. The work has an estimated value of USD $70 million, it will be auctioned next May 18 and, the best thing for crypto art-loving investors, is that it will accept both Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. como Ether the form of payment used in the operation of the distribution application platform, Ethereum. as a means of payment . If there are many interested parties the work could sell for many millions more.
En 2016, Yusaku Maezawa pagó a Christie’s the record USD $57.3 million for the work “Sin título” by Basquiat from 1982. Precisely the one he is now selling. The collector even published an image on his account an account is essentially a whose purpose is to track the financial activities of a specific asset/ of Instagram bragging about that purchase.
However, the fashion mogul behind the e-commerce site Zozotown said he is now reselling this Basquiat, with Phillips Auction House being the intermediary.
Basquiat’s work is about 5 meters wide. It has a figure similar to a devil in the center, as can be seen in the tweet who spread a price difference between asking and selling prices of the asset. the news. Maezawa says that the painting in his view is “ overwhelmingly powerful but melancholic”, and added that “ It makes me feel a sense of euphoria and despair at the same time”.
It is worth noting that the billionaire Maezawa, a great art collector, owns another work by Basquiat, which he bought for more than $100 million.
18 May is the day chosen by the auction house Phillips -a 225-year-old art institution-to launch an evening sale featuring the work of Jean-Michel Basquiat.
When talking about the work, Phillips points out: “This striking horizontal format is probably a nod to Pablo Picasso’s masterpiece, ‘Guernica’.”
Por su parte, el actual duaño, Maezawa, dice: “I hope ‘Untitled’ continues its great journey in good hands and brings smiles to many people around the world.”
As we said, the other news is that the play can be purchased with crypto: “Phillips is pleased to announce that the auction house will accept cryptocurrencies for work in either Ethereum a decentralized open-source blockchain with smart contracts functionality. or Bitcoin.” the auction house made it clear.
However, it is not the first time that Phillips dabbles in crypto payments and tokens no fungibles (NFT) . Last year, Phillips revealed that he was auctioning off a world-famous work of art named “Laugh Now Panel” created by the anonymous anonymity is when something is not known or named. street artist Banksy.
The auction “Laugh Now Panel” de Banksy fue la primera vez que esta casa de subastas aceptó cripto en una subasta de arte físico. Casualmente, durante la misma semana del anuncio de la subasta de Phillips, también the auction house Sotheby’s detailed that he would use the exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Coinbase is an American company that operates a cryptocurrency exchange platform. to sell the image “ Love is in the Air” de Banksy.
Likewise, Phillips organizó recientemente una “Subasta en línea My Kawaii Valentine” Valentine’s Day 2022, where he presented the first NFT auction data generator created by a virtual human. “Among the NFTs non-fungible token, a unique non-interchangeable piece of digital content that is stored on a distributed ledger (blockchain). for sale is Drowning in Love, the world’s first NFT created by virtual artist Monoc, using real-time auction data.” , explic Ó Phillips 8 February.
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Imagen de Unsplash (not the Basquiat work being auctioned)