Sunday Times

Another auction house accepts cryptocurr­ency

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● The sports memorabili­a auction house Goldin Auctions announced this week that it would accept cryptocurr­ency, making it one of the first brick-and-mortar auction houses to follow the runaway success of auction house Christie’s, which accepted ether for a $69m (R1.01bn) sale earlier this month.

Goldin, which is known for high-value items, including a Lebron James basketball rookie card that sold for $1.8m last year, decided to accept bitcoin and ether based on “demand from consumers,” said CEO Ross Hoffman.

“Look, we think a big macro theme that we’re seeing is folks that are hedging; one, against inflation, and two, there’s interest in alternativ­e investing.” Cryptocurr­ency and sports collectabl­es have “a pretty large overlap”, he said.

The auction house has already accepted two payments in crypto, most notably for a

Jay-Z card that sold for $103,200 on March 20. “It’s pretty amazing how easy the tech is to integrate,” Hoffman said.

This isn’t Goldin’s first foray into blockchain-based technologi­es. Earlier this year, the auction house partnered with YouTube star Logan Paul to auction a box of Pokemon cards; winning bidders also received holographi­c trading cards paired to digital certificat­es of authentici­ty known as NFTs.

While Goldin might be among the first brick-and-mortar sports memorabili­a auction houses to accept crypto, it’s following in the well-trodden footsteps of the digital-only platform NBA Top Shot.

Top Shot’s main commodity, short licensed video clips (“moments”) tied to NFTs, is a type of digital baseball card. Their popularity has soared in past months, with prices topping more than $200,000.

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