At its most recent sale that at the same time marked its first auction supported by NFTs, Sotheby’s snapped up $16.8 million by selling a number of animated illustrations developed by digital artist Pak. Sotheby’s foray into the crypto art world arrives just a little over a month after the sale of Christie’s record-breaking NFT by Beeple called Everdays: The First 5,000 Days.

The artwork titled Cube was then listed on the NFT platform, Nifty Gateway, as part of “The Fungible” collection. A total of 23,598 animated illustration files were purchased by collectors over a three-day auction that started this past Monday, totaling $14 million. The artworks portrayed a translucent and white cube on a black background that rotated 360 degrees.

With this NFT release, Pak wanted to shed light on the significance of digital art while challenging ideas of value and rarity by not limiting the amount of his cube art files. Additionally, the artist managed to sell two more works including one crafted using a single pixel which was purchased for $1.36 million by a digital art collector named Eric Young, and the other featuring a rotating geometric shape which sold for $1.44 million as per Artnet.

Posted by:Staff

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