On November 13, Christie's auction house recorded a historic art sale worth $318 million on the blockchain.
The 42 pieces were owned by famous collector Barney A. Ebsworth and included works by Jackson Pollock, William de Kooning, Charles Demuth and Georgia O’Keeffee. Edward Hopper’s Chop Suey alone sold for $91,875,000.
The sale was recorded on Artory's private Ethereum blockchain, including details in the life cycle of an artwork such as sales, final prices, auction dates, item titles, restorations and thefts. Owner identity is not stored.
On Thursday, a new batch of 49 pieces from the Barney A. Ebsworth collection – described as the ‘most important privately-held collection of 20th Century American Art’ – are set to go on auction, with Artory’s blockchain recording solution set to be utilised again.
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