Phillips to accept cryptocurrency as payment for Banksy painting Laugh Now Panel A

British auction house Phillips is ready to sell Banksy’s Laugh Now Panel A for bitcoin or Ethereum.

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Banksy’s “Laugh Now Panel A” is the first lot in Asia to be auctioned with cryptocurrency as payment. https://t.co/uN0Aw3ePqt

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— PHILLIPS (@phillipsauction) June 5, 2021

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The Banksy artwork shows a monkey wearing a sandwich board reading “Laugh now, but one day we’ll be in charge.”

The work is valued at between $2.8 million and $4.1 million, according to SCMP.

The auction starts on June 8 in Hong Kong. Bids will be in Hong Kong dollars, and the winner will be able to pay using cryptocurrency as well.

Founded in 1796, Phillips added digital assets as a payment option amid rising client demand. Competitors have already begun accepting cryptocurrency.

Earlier, Sotheby’s listed for auction Banksy’s “Love Is in the Air” for Bitcoin. The lot sold for $12.9 million.

An NFT of Morons’ burned painting sold for 228.69 ETH (about $400,000 at the time of sale).

The British auction house Christie’s sold a Beeple NFT for $69.3 million. In May, nine non-fungible tokens from the CryptoPunks collection went under the hammer for almost $17 million.

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