Sotheby\u2019s, which is one of \u201cthe world\u2019s largest, most trusted and dynamic marketplace for art and luxury\u201d, has announced the launch of its own non-fungible token (NFT) marketplace called \u201cSotheby\u2019s Metaverse\u201d.<\/p>\n
Sotheby\u2019s, which was established on 11 March 1744 in London, is getting into the world of digital collectibles by offering Sotheby\u2019s Metaverse, \u201can immersive destination for collectors of digital art, offering a curated selection of NFTs\u201d.<\/p>\n
According to a report by Decrypt, Sotheby\u2019s Metaverse will auction NFTs, and wll accept fiat currency in addition to Ethereum, Bitcoin and USDC. The auction house will feature NFTs created on Ethereum, as well as blockchains that are compatible with the Ethereum Virtual Machine, thereby in theory opening the door to blockchains such as Polygon and Binance Smart Chain.<\/p>\n
Sotheby\u2019s Metaverse was launched on October 14, and the first NFT collection to go on sale on this new platform is called \u201cNatively Digital 1.2: The Collectors\u201d (or \u201cND1.2\u201d for short). ND1.2 \u201cshines a spotlight on the people who have championed digital artists and contributed to the digital art space\u201d and it consists of \u201c53 lots of culturally significant art from the vaults of 19 collectors\u201d.<\/p>\n
Decrypt\u2019s report mentions that Sotheby\u2019s Metaverse is powered by Mojito, \u201can NFT studio and tech platform company that designs, powers, and operates NFT marketplaces for industry leading brands and IP holders\u201d. Mojito was \u201cincubated by Serotonin, aproduct studio and marketing firm for transformative technologies\u201d.<\/p>\n
Michael Bouhanna, Sotheby\u2019s co-head of digital art sales, told Decrypt:<\/p>\n