United Kingdom-based contemporary artist, Lincoln Townley, has announced the sale of a 19-painting collection to a Singaporean investor in exchange for 490 bitcoin (BTC).
Townley stated that the deal was made when BTC was priced at approximately £9,000 (roughly $11,000), valuing the sale at approximately £4.41 million ($5.39 million).
The artist described it as “an interesting deal” that “came from an investment angle,” adding that he sees “huge potential” in cryptocurrency.
The 19 paintings comprising Townley’s ‘Greed’ collection were purchased one month before they were scheduled to go on display at a Saatchi Art gallery. The works will be exhibited at the gallery for a single day this month.