Wednesday, May 29, 2024

Sotheby’s will sell the world’s oldest NFT

The auction house will host a sale of non-fungible tokens from June 3rd to 10th. 27 lots will be available for purchase, including geometric animation by digital artist Kevin McCoy, created in May 2014.

Sotheby’s will sell the world’s oldest non-fungible token, created in May 2014. It is about the geometric animation “Quantum” by digital artist Kevin McCoy, writes Reuters . The NFT sale will take place at the Natively Digital: Curated NFT Sale from June 3-10. In addition to McCoy’s animation, the auction house will sell 26 more works, including, for example, an NFT token from the CryptoPunk collection.

The starting price of the lots will be $ 100; you can pay for the purchase using Bitcoin, Ethereum and fiat currencies. After the completion of trading, NFT tokens will be sent to buyers’ crypto wallets.

In May, Sotheby’s, for the first time in its history, allowed to pay for the purchase of a painting with cryptocurrency. The first lot of the auction house, sold for cryptocurrency, was the work of artist Banksy.

Sotheby’s is one of the world’s largest and oldest auction houses, founded in 1744. The bulk of the auction house’s lots are luxury and art items.

NFT tokens are unique and not divisible. Such tokens are used to confirm ownership of an object; they cannot be replaced without the consent of the owner.

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