Another auction house accepts cryptocurrency
● 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.