High-end auction house Sotheby's plans to hold its first NFT sale next month

NFTs • March 16, 2021, 9:10AM EDT
UPDATED: March 16, 2021, 11:33AM EDT
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Luxury auction house Sotheby's has announced its first-ever non-fungible token (NFT) sale. The auction which will feature work by PAK, an anonymous digital artist. 

The NFT will be on sale starting next month. The exact date of the auction has not been announced yet. 

In an interview with CNBC's Squawk Box, Sotheby's CEO Charles Stewart said the auction house wanted their first NFT sale to feature the work of a prominent, well-known artist. 

"It's still very early with crypto art in general," he said. "This has the potential to bypass a lot of the traditional gatekeepers."

Sotheby's is the latest auction house to join the crypto art space. The announcement comes days after British auction house Christie's sold popular digital artist Beeple's 5000-day collection for nearly $70 million. 

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Saniya More profile picture Saniya More

Saniya More (pronounced: Saan-ya Mo-ray) is a quadrilingual journalist at The Block. She got her master’s degree from the Columbia University Graduate School of Journalism and did her undergraduate degree at the S.I. Newhouse School of Public Communications, Syracuse University. Her work has appeared in CBS News, Bangkok Post, Thai Enquirer, Globalists, Byline Times and other publications. When she’s not chasing a story, you will most likely find her biking, tweeting, taking photos or creating Spotify playlists for every occasion.

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