The Gen Art Program: Sotheby’s Unveils Blockchain-Based Auctions for Generative Artists
Sotheby’s, the renowned auction house, has announced the launch of its new blockchain-based program called the Gen Art Program. This program aims to feature the works of two to three generative artists each year through fully on-chain auctions using the Art Blocks Engine, a generative asset creator. The first-ever auction for this program will take place on July 26, showcasing 500 pieces from the 99-year-old generative artist Vera Molnár, who has been experimenting with algorithms and generative work since the 1960s.
Key points:
– Sotheby’s is introducing the Gen Art Program, a blockchain-based initiative for generative artists.
– The program will hold fully on-chain auctions using the Art Blocks Engine.
– The first auction will feature 500 pieces from Vera Molnár, a renowned generative artist.
– Sotheby’s aims to support and showcase leading gen artists and engage with collectors through this program.
– Only ETH payments will be accepted for the auction, which will take place on Sotheby’s Metaverse.
Sotheby’s has already experienced success with generative art through the recent sale of “The Goose” NFT by Dmitri Cherniak, which fetched $6.2 million. This program allows the auction house to further explore and promote generative art while providing additional opportunities for collectors to engage with artists and acquire exclusive works.
Hot Take: Sotheby’s Gen Art Program represents a significant step forward in the integration of blockchain technology in the art world. By embracing generative art and leveraging the power of blockchain, Sotheby’s is not only supporting and showcasing talented artists but also revolutionizing the way art is bought and sold. The acceptance of ETH payments and the use of the Sotheby’s Metaverse platform further demonstrate the auction house’s commitment to innovation and providing unique experiences for collectors.
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