UK artist sells 19 paintings for 490 Bitcoin
An artist from the United Kingdom has announced that he has sold a collection of 19 paintings for a total of 490 Bitcoin. The price obtained for the collection at the time of writing is approximately $ 4.9 million.
Lincoln Townley, the creator of the collection, has a history of selling his artwork for Bitcoin. In fact, the famous artist who lives in London did what is believed to be the first example of an auctioned work of art in which Bitcoin was used as a payment method.
Another art collection sold by Bitcoin
According to a report in the UK Standard Evening news publication, the popular British artist Lincoln Townley has just sold more works of art for Bitcoin. An unnamed Singaporean businessman bought the collection, titled “Greed.” He reportedly paid 490 BTC, or almost $ 4.9 million for the 19 paintings.
The works were to be exhibited at the Saatchi Gallery in London, next month. However, after the sale, which was made with the help of a Swiss agent, the gallery will only show the works for a single day this month.
Townley is no stranger to receiving Bitcoin as a means of payment for their work. The artist is widely recognized as the first artist to make an official sale of his work using cryptocurrency. In 2017, he sold the piece “Tribute to Francis Bolton” for 40 Bitcoin. At the time of the sale, this was around $ 640,000.
The artist is not only famous for accepting Bitcoin, but has a list of high-profile 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 sold a diamond-encrusted portrait of Princess Diana for $ 1.23 million in 2017.
In addition to the artist’s adoption of alternative payment methods, a name has also been made selling his work through social networks. 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.
However, Townley believes that his unorthodox sales are more than new. He claims that such experimentation could transform the art industry. He declared at the time of the 2018 sale:
“The best thing is that it fuels my belief that the galleries are secondary to the success of an artist: they just need to look at the galleries as another rope to their bow. There are many other ways to get sales with technology. “
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