A new milestone in blockchain adoption has been set with the successful recording of a record-breaking art sale on a blockchain.
On November 13, the Barney A. Ebsworth Collection sale at the famous Christie’s auction house in New York raised a total of $317,801,250, in the process becoming the most valuable art auction to ever to be recorded on a blockchain. In a press release about the auction, Christie’s revealed that the auction was handled in partnership with art-focused technology provider Artory, using its permissioned blockchain to host the auction information.
On a night that saw several sales records for American art pieces broken, at least thirteen auction records were set, with Edward Hopper’s Chop Suey alone fetching an eye-popping $91,875,000. The auction saw participants from 23 countries bidding for an art collection curated by famous collector Barney A. Ebsworth which had the work of famous artists like Jackson Pollock, William de Kooning, Charles Demuth and Georgia O’Keeffee.