Sotheby’s Sold Digital Artwork by Pak for $16.8 Million Along with a Single Pixel NFT for $1.36 Mln
Sotheby’s hosted its first digital art sale that fetched $16.8 million.
The non-fungible token (NFT) was created by anonymous digital artist Pak, the auction house said on Wednesday. It also sold an image of a single-pixel for $1.36 million.
The sale of the artwork was accepted in Ether (ETH) along with via debit or credit card.
Just a month back, rival Christie’s sold its NFT, “Everydays: The First 5,000 Days,” by digital artist Beeple for $69.3 million, which was all paid in Ether cryptocurrency. ETH 4.99% Ethereum / USD ETHUSD $ 2,467.46
$123.134.99% Volume 33.07 b Change $123.13 Open $2,467.46 Circulating 115.48 m Market Cap 284.94 b 24 min Sotheby’s Sold Digital Artwork by Pak for $16.8 Million Along with a Single Pixel NFT for $1.36 Mln 2 h It’s “Inevitable,” says WallStreetBets as it Finally Allows Daily Crypto Discussions in its Subreddit 3 h Decade-Old Crypto Exchange Listed on Nasdaq at 4 Times its Valuation
Called ‘The Fungible’ Collection,” the digital artwork sold by Sotheby’s includes a series of digital cubes which collectors could buy for $500 to $1,500 each, then receive NFTs based on the number of cubes they own.
The NFT of an image of a single pixel called “The Pixel” also fetched $1.36 million on the auction after 90-minute bidding.
This sale was particularly targeted toward “crypto-native collectors, said Max Moore, contemporary art specialist at Sotheby’s.
“These new crypto investors have a very different aesthetic and a very different taste profile than a traditional collector would, and so it’s important to provide a mix and a range of collectibles at Sotheby’s to attract a wide variety of audiences.”
The sale of the digital artwork took place on the crypto exchange Gemini owned Nifty Gateway.