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NEW YORK (1010 WINS) -- A Banksy piece sold for $12.9 million at a Sotheby's auction on Wednesday, marking the first time cryptocurrency has been accepted as payment for a physical work of art, the auction house said.
The piece, "Love is in the Air," sold after "a 14-minute bidding battle between 4 bidders," Sotheby's said.
Banksy's "Love is in the Air."Sotheby
Sotheby's announced that it would accept Bitcon and Ether as forms of payment for the iconic protest image earlier this month.
"This market-defining new arrangement — which paves the way for further adoption of cryptocurrency across Sotheby's auctions — is a continuation of Sotheby's experimentation with new technologies," the auction house said in a press release.
