- It will run on Ethereum and Polygon
- And become part of Sotheby’s Metaverse
Auction house Sotheby’s has opened a secondary marketplace for its curated NFTs. It is part of Sotheby’s Metaverse Web3 ecosystem.
The platform will offer direct P2P deals between collectors. It is integrated with the Ethereum and Polygon networks. Users will pay for transactions with either ether or MATIC.
“With an ever-changing selection of top artists selected by Sotheby’s experts, the platform will provide expert guidance and context for every work, from thematic presentations to spotlights, for easy navigation designed for exhibitions.”
The company clarified that the secondary marketplace will showcase different NFT artwork in turn. This will include the work of top digital artists such as XCOPY, Tyler Hobbs and Claire Silver.
Sotheby’s accounts for 24% of global art sales. This is an auction house with 279 years of history. Interestingly, Sotheby’s became one of the first crypto users in the world of auctions. In the summer of 2021, the company sold a 101.38-carat diamond for $12.1 million in an unknown cryptocurrency at one of the auctions. Later, they started trading NFTs and recruited top digital artists to work with them.