RATE Group | Andy Warhol Painting Cryptocurrency Auction Ahead
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Andy Warhol Painting Cryptocurrency Auction Ahead

13 Jun Andy Warhol Painting Cryptocurrency Auction Ahead

Posted at 07:43h in Bitcoin News by

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When Andy’s Warhol’s Fourteen Small Electric Chairs goes up for auction on June 20, the painting won’t just entice fine art dealers and collectors. Bitcoin billionaires will no doubt tune in to watch—and maybe buy into—the world’s first-ever public auction in which winners will pay with cryptocurrency.

Would-be buyers will bid on digital certificates using cryptocurrencies including Bitcoin and Ethereum. The auction will also allow for another first: bidders can buy only a fraction of the painting. The auction will be held on blockchain platform Maecenas in partnership with Mayfair-based cryptocurrency broker Dadiani Syndicate.

“This event marks the first-ever artwork to be tokenised and to be sold using blockchain technology,” Maecenas CEO Marcelo Garcia Casil told The Independent, explaining the process through which collectors can now own only a fraction of a piece of art. “We’re making history.”

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