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Sotheby’s continues to invest in NFTs

Sotheby’s continues to invest in NFTs

The auction house Sotheby’s has launched a platform dedicated to collectors of digital objects and has announced a bi-annual sale.

 

The auction house Sotheby’s has inaugurated a platform and a bi-annual sale dedicated to NFTs, a sign of its commitment to this field.

 

An NFT is a digital object that can be a drawing, an animation, a piece of music, a photo or a video with a certificate of authenticity created by blockchain technology. This authentication by a network of computers is considered tamper-proof. Almost unknown until a year ago, NFTs now represent 2% of the global art market.

 

Sotheby’s has been selling NFTs for some time now. In July, it sold the source code for the World Wide Web for $5.4 million.

 

With the launch of its platform and bi-annual auction, Sotheby’s aims to further expand its presence in the NFT sector. To meet its ambitions, the auction house will open a metaverse, in which buyers will be able to create a personal profile, with an avatar designed by crypto designer Pak.

 

Buyers will also be able to make payments in fiat currencies or crypto-currencies, including Ethereum, Bitcoin or USDC.

 

See Also

The first NFT auction in the auction house’s history will take place from 18 to 26 October. It will be titled ”Natively Digital 1.2: The Collectors”, and will feature 53 lots, including works by Pak, Rare Pepe and Larva Labs.

 

Read also > NFT SALES REACH $10.7 BILLION IN THE THIRD QUARTER

 

Featured photo : © Wikimedia Commons

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