Auction house Sotheby's is hosting its first NFT sale next week

advertisement

Luxury auction house Sotheby's is hosting its first-ever non-fungible token (NFT) sale featuring work created by Pak, an anonymous digital artist. 

According to an announcement published Tuesday, the collection will include NFTs in the form of digital "cubes." The individual NFTs are: A Cube (1), Five Cubes (5), Ten Cubes (10), Twenty Cubes (20), Fifty Cubes (50), Hundred Cubes (100), Five Hundred Cubes (500), and Thousand Cubes (1,000). 

If a collector chooses to purchase one cube they will receive one NFT. If they purchase six cubes, they will receive two NFTs: "A Cube" and "Five Cubes." 

According to the announcement, the collection aims to "scrutinize our understanding of value," and poses potential buyers with the question: "What does value mean, and from where does it derive authority?"

The sale will begin on April 12 and end on April 14, and will be released in collaboration with NFT marketplace Nifty Gateway. 

Pak, whose identity remains a mystery, has been a prominent figure in the world of digital art for over twenty years. In addition to using technology to create artwork, they are also the founder and lead designer of the studio Undream. Pak also created Archillect, an AI meant to find and display visual media. 

Image via Sotheby's website

Related Reading

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Layer-1 Platforms: A Framework for Comparison

The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana. We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come. 
Read Full Story
Aug 11, 2021, 5:18PM UTC
More