UK Artist Sells 19 Paintings for 490 Bitcoin
A UK artist has announced that he has sold a collection of 19 paints for a total of 490 Bitcoin. The price fetched for the collection at the time of writing is just less than $4.9 million.
Lincoln Townley, the creator of the collection, has a history of selling his artworks for Bitcoin. In fact, the celebrated London-based artist made what is widely believed to be the first example of piece of artwork auctioned in which Bitcoin was used as the payment method.
Another Art Collection Sells For Bitcoin
According to a report in UK news publication Evening Standard, the popular UK artist Lincoln Townley has just sold more of his artwork for Bitcoin. An unnamed Singaporean business man bought the collection, titled “Greed”. He reportedly paid 490 BTC, or almost $4.9 million for the 19 paintings.
Appetite for Crypto Assets Could Grow as PBOC Announces Easing
Tuesday February 18, 2020
The crypto market is off to a bad start this week. But that has not depleted its possibilities of registering a big fat rebound thanks to Beijing. The People’s Bank of China announced that...
The post Appetite for Crypto Assets Could Grow as PBOC Announces Easing appeared first on 12bitplay - Bitcoin Play.
Artist Lincoln Townley sells 19 paintings for £4m worth of bitcoin https://t.co/LoSRSsXgR4 pic.twitter.com/zLu6DM08KL
— tweetonlondon (@tweetonlondon) September 11, 2019
Ethereum Rally Seems Unstoppable: Here’s Why Its Different Than Bitcoin
Thursday February 13, 2020
Ethereum price rallied another 12% and surged above the $270 level against the US Dollar. ETH traded to a new 2020 high at $275 and it is likely to test $288 and $300 in...
The post Ethereum Rally Seems Unstoppable: Here’s Why Its Different Than Bitcoin appeared first on 12bitplay - Bitcoin Play.
The works were due to go on display at The Saatchi Gallery in London, next month. However, following the sale, which took place with the help of an Swiss agent, the gallery will only display the works for a a single day this month.
Townley is no stranger to receiving Bitcoin as a means a payment for his work. The artist is widely credited as the first artist to make an official sale of their work using the cryptocurrency. In 2017, he sold the piece “Homage to Francis Bolton” for 40 Bitcoin. At the time of the sale, this was around $640,000.
The artist is not only famous for his acceptance of Bitcoin, he has a list of high profile, A-list fans including Michael Caine, Al Pacino, Sting, and Ronaldinho. Meanwhile, other big names have been the subject of the artist’s work. For example, Kate Moss and the late David Bowie have been painted by Townley. He also famously sold a diamond-encrusted portrait of Princess Diana for a cool $1.23 million in 2017.
In addition to the artist’s embrace of alternative payment methods, he has also made a name selling his work via social media. In 2018, NewsBTC covered an auction that took place online and exclusively in cryptocurrency. The event was held over the course of a weekend last year.
Townley believes his unorthodox sales are about more than novelty, however. He claims that such experimentation could well transform the art industry. He stated at the time of the 2018 sale:
“The best thing is it fuels my belief that galleries are secondary to an artist’s success – they just need to look at galleries as another string to their bow. There are so many other ways to get sales with technology.”
Bitcoin and Altcoins Flash Signal That The Crypto Rally Is Coming to A Finish
Thursday February 13, 2020
The crypto rally of 2020 is one for the history books already, with Bitcoin and altcoins rallying well over 50% year-to-date, and in some cases, specific crypto assets are up well over 1,000%. But...
The post Bitcoin and Altcoins Flash Signal That The Crypto Rally Is Coming to A Finish appeared first on 12bitplay - Bitcoin Play.
Related Reading: Crypto Artist Continues to Innovate with Tokenised Street Art Sale
Featured Image from Shutterstock.
The post UK Artist Sells 19 Paintings for 490 Bitcoin appeared first on NewsBTC.