British media has confirmed that London-based artist Lincoln Townley has sold 19 of his works for 490 Bitcoin to a Singapore investor. The paintings in question are part of the “Lăcomiei Collection” and were purchased through a Swiss agent.
Artworks sold in Bitcoin
Townley is famous for his portraits of celebrities such as Kate Moss and David Bowie and is one of many artists to accept cryptocurrencies. In 2017, he sold another piece, named Francis Bacon’s Homage to a European collector for 40 BTC. At the time, this was one of the first cryptocurrency transactions for works of art.
In an interview with Daily Express, Townley argued that artists should look for new ways of selling works. He avoids the traditional methods of galleries and auctions, instead choosing to take advantage of technological advances.
“I think there is a huge market for expansion, because both art pieces and cryptocurrencies will grow in value”
Townley explained.
Following this week’s sale, the artist owns 530 BTC, worth over $ 6 million.
He is certainly not the only artist who accepts bitcoin payments for his work. In 2018, a painting by Andy Warhol was put up for sale by auction house in London, Dadiani Syndicate. The work, of which 49% was sold, was paid in ethereum or bitcoin, as well as in the ART token. The British company Dadiani Syndicate specializes in the sale of works of art sold in Bitcoin.
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