Sotheby's auctions off NFT for $11.8M
Christie's has been at the forefront of auctioning off "digital art" but now Sotheby's is also finally dipping their toes into the digital world.
This particular digital artwork is called "crypto punk".
Both auction houses have historically specialized in jewelry and art, physical ofcourse, so this new digital art trend could ultimately spill over to the jewelry sector as well.
We have highlighted a few jewelry NFTs over the past couple of months but the jewelry sector continues to lag on all fronts of technology.
About the $11.8M sale, from Securities.io...
"The world’s largest brokers of fine and decorative art, jewelry, and real estate, Sotheby created history by auctioning an NFT art for a record-breaking sum. Sotheby successfully carried out the sale of rare artwork, ‘Crypto punk.’ The luxury auction house held a virtual auction from 3rd June to 10th June with 27 unique digital arts.
The artwork, ‘Crypto Punk,’ also called ‘Covid Alien’, was sold in its London salesroom for nearly $11.8 million. CryptoPunk was released in June 2017 as one of the first Non-Fungible Tokens on the Ethereum blockchain. They are 24*24-pixel art images, which are generated algorithmically. There are almost 10,000 small, 8-bit style punks and all of them have unique features."