Launched: Sotheby’s NFT Marketplace
Sotheby’s Auction House is joining the NFT World by launching its first NFT Marketplace with its own Metaverse. It’s the first of its kind among blue-chip auction houses, All NFT sales at Sotheby’s will now take place in their Metaverse. The layout of their Metaverse website is similar in format to NFT-specific platforms such as OpenSea. The NFTs are displayed so that buyers can easily see the transaction history of the pieces. Yet, unlike other NFT platforms, Sotheby’s Metaverse offers a description of each piece’s significance, alongside the artist’s biography. Additionally, those who sign up for Metaverse are given a profile picture designed by well-known NFT artist Pak.
First Official Auction…
The first official auction ended yesterday and set records with 1,500 bids and a total turnover of $18.6M after nine days of live bidding. Three NFTs reached record bids, including #8817 Ape by Bored Ape Yacht Club, Rare Pepe PEPENOPOULOS, and Self Portrait #1 by Dmitri Cherniak. Natively Digital 1.2 is the first auction that took place in the Metaverse. Bidding began on Oct. 18 and ended on Oct. 26. It is the second NFT auction in this series, and Sotheby’s says it plans to be the firm’s flagship biannual NFT auction.