A rare black diamond from the depths of the Outer Cosmos will be put up for auction in the coming months. Online auction house Sotheby's has announced that buyers can pay using cryptocurrency.

This stone, known as the "Enigma", is a rare 555 carat black diamond. It has been in the same collection for over 20 years. At Sotheby's auction in Dubai, the stone is expected to sell for between $4.1 million and $6.8 million.

Rare Black Diamond Backstory

The insanely beautiful and rare black diamond has a long history. In 2004, the Gemological Institute of America and the Swiss gemstone company Gubelin named it the largest and most luxurious black natural colored diamond in the world. Two years later, in 2006, it was listed as the largest cut diamond in the world according to the Guinness Book of World Records.

Sotheby's said that a natural faceted black diamond of this size is extremely rare. "Its origin is shrouded in mystery – it is believed to have been caused by a meteor impact or actually emerged from a diamond-bearing asteroid that collided with the Earth."

The diamond will be on display for the first time in Dubai from January 17 to 20. Then it will travel to Los Angeles, where it can be seen from January 24 to 26. Then it will travel to London from February 2 to 9, where online bidding will begin in February.

This diamond has 55 facets and weighs 555.55 carats. The design is inspired by the human hand. It is a symbol of the Middle Eastern palm of Kamsa. It is supposed to provide strength and protection.

The history of success of cryptocurrencies, NFT and the metaverse

Sotheby's has ventured into the realm of cryptocurrencies, irreplaceable tokens (NFT) and the metaverse. It is therefore not surprising that one of the payment methods accepted on the trading floor of this rare and unique stone is cryptocurrency assets.

Last year, the jewelry market leader sold another rare 101-carat gem, The Key 10138 diamond, for a record $12.3 million in cryptocurrency. This makes the stone the most expensive ever purchased using cryptocurrency. At least until now.

In November 2021, the auction house sold two paintings by the mystery artist Banksy for about 3,100 ETH, or about $10 million at current prices. Sotheby's is not the only auction house to accept ETH bids. Christie's did the same thing in September 2021, selling rare NFTs.

Sotheby's flirtation with the digital world began in 2020 due to the restrictions imposed by the pandemic. The auction house pioneered the market by hosting a live auction in June 2020. The event connected New York, Hong Kong and London and was watched simultaneously by a huge number of people around the world.

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