Digital artwork for A $ 15.2 million

According to auction house Sotheby’s, a non-fungible token (NFT) of digital artwork called “CryptoPunk” sold for A $ 15.2 million.

CryptoPunks is a set of 10,000 pixel art characters created by Larva Labs in 2017.

“CryptoPunk # 7523” sold by Sotheby’s is a popular alien variety with turquoise skin and a medical mask.

The work is in NFT format. That is, it is authenticated by the blockchain and proves its originality and ownership.

The NFT will be sent to the buyer’s crypto wallet. Physical artwork doesn’t change your hand.

“CryptoPunk # 7523” was sold for over A $ 15 million as part of Sotheby’s online auction “Natively Digital: A Curated NFT Sale”.

According to Sotheby’s, it was acquired by Israeli entrepreneur Shalom Meckenzie, the largest shareholder of digital sports company DraftKings.

Sotheby’s contemporary art specialist Michael Bouhanna said the sale shows continued strong demand for NFTs.

“I’m excited to continue to explore new and interesting ways to present these cutting-edge works,” he said.

Anyone can see the artwork represented by the NFT, but only the purchaser has the official status of being the owner.

The sale was an online auction, but the work was shown on the screen of Sotheby’s exhibitions in New York, London and Hong Kong.

Sotheby’s has also opened its first virtual gallery. This is a replica of a real-world building in the online virtual world Decentraland on New Bond Street in London.

Decentraland is a blockchain-based virtual world where users can roam with friends, visit buildings, go to events and view NFT artwork collections.

“Yes, but you can’t hang it on the wall,” says Dave Carr, a spokesman for the Decentraland Foundation, where this is where the world of virtual societies like Decentraland is coming.

“The virtual world is the natural home of digital art NFTs.”

NFTs exploded in popularity in February and March.

NFT artwork won A $ 89.4 million at Christie’s for the first sale by a major auction house of physical formless artwork.

Digital artwork for A $ 15.2 million

Source link Digital artwork for A $ 15.2 million

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