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Sotheby's Moves Into 'New World' of Digital Art and NFTs
"There's a lot here that's really exciting and, we think, has staying power," said CEO Charles Stewart.
Updated May 9, 2023, 3:17 a.m. Published Mar 16, 2021, 1:54 p.m.
Charles Stewart, CEO of Sotheby’s, has announced a partnership that will see the top auction house hold a sale of NFT-based digital art from anonymous artist Pak.
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- In an interview on CNBC’s "Squawk Box" on Tuesday, Stewart said his firm has been following the non-fungible token space for some time.
- "There's a lot here that's really exciting and, we think, has staying power," he said.
- Sotheby's chose to hold its first NFT art sale with Pak because it wanted to work with one of "the most established artists" in the space, according to the CEO.
- Talking to CoinDesk, a Sotheby’s representative said the firm will accept cryptocurrencies for the artworks.
- Max Moore, Sotheby’s co-head of the Contemporary Art Day Sale in New York, will be heading the sale.
- The news comes days after the Christie’s auction house auctioned an NFT artwork by Beeple that sold for a record $69.3 million.
See also: What Are NFTs and How Do They Work?
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