Sotheby’s, the renowned fine art auction house, is launching an on-chain Gen Art Program powered by Art Blocks, a generative art platform. The program will feature a sale of NFTs by early algorithmic artmaker Vera Molnár. The Gen Art Program will be fully on-chain and conducted exclusively in ETH. This move is part of Sotheby’s exploration of more sale options that can be fully on-chain since moving to the metaverse in May. The partnership between Sotheby’s and Art Blocks came about when it was realized that Art Blocks’ Engine would be a perfect fit for building out Sotheby’s generative art platform. The inaugural sale will be a Dutch auction, which is a departure from Sotheby’s traditional auction format. The ceiling price for works in the Molnár sale is set at 20 ETH. The Gen Art Program marks Sotheby’s expansion into the Web3 space and its commitment to elevating long-form generative art.
– Sotheby’s launches on-chain Gen Art Program powered by Art Blocks
– Sale of NFTs by Vera Molnár christens the program
– All sales will be fully on-chain and in ETH only
– Partnership between Sotheby’s and Art Blocks formed after recognizing the fit for building out the generative art platform
– Inaugural sale will be a Dutch auction with a ceiling price of 20 ETH
Hot Take:
Sotheby’s entry into the on-chain Gen Art Program demonstrates its commitment to embracing the digital art world and exploring new sale options. By partnering with Art Blocks, Sotheby’s is able to tap into the growing interest in generative art and provide collectors with exclusive new sales. This move also showcases the increasing respect and recognition for generative art within the art world. With the success of previous NFT sales, Sotheby’s is well-positioned to capitalize on the demand for digital art.
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