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A Picasso Artwork Was Just Sold For Cryptocurrency
What would the artist Pablo Picassohave thought about the use of cryptocurrencies for the sale of art? Interesting question!
We will never know, but a company in Florida has just acquired one of its paintings using them.
For the first time, a work of art by the Spanish painter and sculptor Pablo Picasso has been sold in its entirety through cryptocurrencies.
the work Danse du ventre devant homme impassible which was completed by Picasso in 1971, two years before his death, which is printed on woven paper with the artist's stamped signature, was acquired in cryptocurrencies in late May by a Florida-based company called Idoneus.
While the company did not disclose how much it paid for Picasso's work, the value of some of his sketches is estimated to be as high as $ 20,000.
In the past, other recognized paintings by the author have been valued above $ 160 million.
In any case, the company pointed out that the sale of the engraving was made with the native Idoneus token, called IDON.
Tim O’Leary, Vice President of Portfolio Development for Idoneus commented in a press release published on ProNewsReport regarding the purchase:
It is a great pleasure to announce that Idoneus has purchased an original work of art from Pablo Picasso, using IDON tokens as a payment method. This is an incredible feat for any cryptocurrency company established to acquire artwork from one of the world's leading artists.
Idoneus' native token has already been used to pay for other high-value assets. "IDON has already been used as a payment method for multiple properties valued in seven digits, diamonds, fine jewelry, gold and silver," said O'Leary.
However, in a search for the IDON token in Etherscan, it was not possible to determine the value of this coin (it is not registered by CoinMarketCap either). According to information from the token finder, IDON's supply is 1 billion assets. Likewise, five directorates maintain the currency and a total of only 29 transactions have been carried out.
In the company's words, its goal is to bring the transactions of the entire luxury goods industry to Blockchain technology to provide transparency, security and speed.
Idoneus is a company that uses Blockchain technology and digital assets for the sale of luxury goods such as works of art, aircraft, yachts, precious stones, luxury vehicles, real estate and fine jewelry; as read on its website.