Sotheby's to auction off digital art as NFTs

Sotheby’s is wading into the NFT craze

with a digital art auction

Location: Manhattan, New York City

(SOUNDBITE) (English) SOTHEBY'S, VICE PRESIDENT OF CONTEMPORARY ART DEPARTMENT, MAX MOORE, SAYING:"Our traditional clients are very physical, you know, they're responding to the physicality of an artwork. And so we thought it very important to integrate a physical exhibition within what is considered a purely digital existence with these artworks."

"Natively Digital: A Curated NFT Sale" features work from 27 artists

including Kevin McCoy's "Quantum" - the first known NFT

The non-fungible tokens will be sent to the buyers' cryptocurrency wallets

so no physical artwork ever changes hands


"As we move more and more into that type of society where technology is intertwined and intersected and more powerful in increasing ways that NFTs and digital assets will just be a reflection of our preferences and our values as a human society. So, you know, I think that, again, we're just at the starting point. There's been a huge trajectory over the past four months in terms of market and price discovery. We're coming back down to reality now, which I think is actually very healthy for the long-term growth of the market. But I do think that, you know, we're scratching something that's quite interesting and unique and revolutionary and reflective of the future in some ways."

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