In a groundbreaking move, Christie's Auction House will accept Ethereum (ETH) as payment for digital artist Beeple's NFT artwork "Everydays: The First 5000 Days". The auction will run from February 25 to March 11, with bids starting at $100. Premiums will be settled in USD, while the base payment can be made in ETH.
Key Details
- Artwork: Everydays: The First 5000 Days by Beeple (a collage of 5,000 daily digital artworks).
- Auction Period: February 25 – March 11.
- Payment Method: ETH accepted for the first time at Christie’s, with USD for premiums.
- Starting Bid: $100.
Why This Matters
Noah Davis, a Christie’s expert, highlighted that crypto assets are evolving into a mature and mainstream commercial tool. By embracing ETH, Christie’s aims to:
- Attract new audiences to the auction market.
- Showcase the intersection of traditional art and blockchain innovation.
FAQs
1. Can I bid entirely in ETH?
No, only the base payment can be made in ETH. Premiums (amounts above the winning bid) must be paid in USD.
2. How does Christie’s handle ETH volatility?
The ETH-to-USD conversion rate will be locked at the time of transaction to mitigate price fluctuations.
3. Is this Christie’s first NFT sale?
Yes, this marks Christie’s debut in NFT auctions, signaling broader institutional adoption of crypto in art.
The Bigger Picture
This auction reflects:
- Growing institutional trust in cryptocurrencies.
- NFTs as a legitimate art medium, endorsed by elite auction houses.
👉 Explore how NFTs are reshaping digital ownership
Note: Christie’s move aligns with global trends, as major platforms like 👉 OKX facilitate seamless crypto transactions for art and beyond.
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- Christie’s Auction House
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- Everydays: The First 5000 Days
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- Blockchain innovation