Sotheby's first ETH denominated sale was valued at $12 Million.

Contemporary artist Banksy has sold two art pieces, “Trolly Hunter” and “Love is in the Air (2006)” for a combined total of $12 million which equalled 3,093 ETH. This was the first time where the auction house Sotheby has accepted cryptocurrency for a sale.

#AuctionUpdate: In a groundbreaking auction first for physical artworks, auctioneer Oliver Barker fielded real-time bids in $ETH for Banksy’s ‘Trolley Hunters’ and ‘Love Is In The Air.’ pic.twitter.com/GrHdEYTayf

— Sotheby's (@Sothebys) November 19, 2021

Banksy is a pseudonymous Britain-based street artist. The first art piece, called “Trolley Hunters”, was sold for $6,698,400 and the other for $8,077,200. We have previously reported on how Sotheby’s has been adopting cryptocurrencies towards the sale of artworks.

While we are talking about Sotheby, where the much-awaited copy of the US constitution was auctioned, the ConstitutionDAO was outbid by a Wall Street guy for $43.17 million. Though folks who contributed towards this endeavour were disappointed, the event captivated mainstream attention as perhaps the best example of a crypto community that could crowdsource $47 million within a week. The ConstitutionDAO couldn’t top the winning bid of $43.17 million because it didn’t have enough funds for the continued maintenance of the document.