Sotheby’s Now Deep In the NFT Game

Some people don’t think the Jackson Pollock splatter canvas is art.

What about this “cube” by the digital artist Pak?

Auction house Sotheby’s is getting into non-fungible tokens #NFTs) in a big way with the sale this week.

You can buy a number of pieces of art by bidding against others who desire, per the auction website, “novel assurances of scarcity and ownership, but exposes them to the unique features with which technology can endow artwork.”

And (perhaps ironically), the artist is scrutinizing “our understanding of value.” Yeah, for sure.

For reasons only known to the seller and the artist, if you buy one cube, you get one NFT, but if you buy 26 cubes you get 3 NFTs and “collection of 100 NFTs that will be given to the following 100 individuals who purchase the most Open Edition cubes by the end of day 3.”

If the NFT is too much for you, you can bid on one pixel (exactly one pixel), starting at $1.

A game for folks with money to burn.

(No endorsement implied).

https://www.sothebys.com/en/digital-catalogues/the-fungible-collection-by-pak

Source: https://jeffkoeppel.wordpress.com/2021/04/12/sothebys-now-deep-in-the-nft-game/

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