On July 26, Sotheby’s auction house will hold an auction for the works of generative artists as part of the Gen Art Program campaign using blockchain technology.
— Sotheby’s Metaverse (@Sothebysverse) June 28, 2023
All prices are in Ethereum – starting rates will start from 20 ETH. The organization called the initiative “a nod to crypto-collectors.”
The project uses an infrastructure solution to create non-fungible tokens based on generative images − Art Block Engine.
“Sotheby’s Gen Art aims to bring some of the most talented and respected artists to market. The program will be carefully supervised. The organizers will focus on attracting up to three participants per year to showcase generative works in expanded form as a new medium.
In 2022, Sotheby’s hired NFT specialist Brian Beccafico to join the digital art team.
Recall that in May 2023, the auction house began trading in non-fungible tokens of the bankrupt hedge fund Three Arrows Capital. The company’s collection includes Zombie-inspired CryptoPunk #6649, Dmitry Chernyak’s Ringers #879, and Tyler Hobbs’ Fidenza #216.
Earlier, Sotheby’s put up for sale the manuscript of Neil Stevenson’s cult novel Avalanche, which allegedly first appeared the term “metaverse”.
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