Auction Houses Sotheby s, Phillips Latest To Join NFT Craze By Thomas URBAIN
04/12/21 AT 1:21 PM
Sotheby s and Phillips launched so-called NFT auctions on Monday, a month after Christie s sold a digital artwork for $69.3 million, as traditional auction houses seek to capitalize on the craze shaking up the art market.
Three months ago, barely anyone had heard of a non-fungible token (NFT), a digital object such as a drawing, animation, piece of music, photo, or video with a certificate of authenticity created by blockchain technology.
But that changed in March when a digital collage by American artist Beeple sold for $69.3 million at Christie s, setting a new record for an NFT, and the first message posted on Twitter went for $2.9 million.
/PRNewswire/ Phillips is pleased to announce the sale of REPLICATOR by Mad Dog Jones, the first NFT to be offered by the auction house in company history..
Phillips to Offer REPLICATOR by Mad Dog Jones, The First NFT in Company History
NEW YORK, New York
Subject Line
Please provide verification code
Image Courtesy of Phillips
The First NFT in Company History
Â
NEW YORK â 2 April 2021 â Phillips is pleased to announce the sale of
REPLICATOR by Mad Dog Jones, the first NFT to be offered by the auction house in company history. With an opening bid of $100, the work was created with the ability to generate new unique NFTs from itself every 28 days.
REPLICATOR will be offered in an online-only auction, open for bidding to collectors around the globe on phillips.com from 12-23 April.Â
Money isn't the only reason auction houses are jumping on NFTs bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Phillips to offer REPLICATOR by Mad Dog Jones, the first NFT in company history
Still image from Generation 1 of REPLICATOR. Image courtesy of Phillips.
NEW YORK, NY
.- Phillips announced the sale of REPLICATOR by Mad Dog Jones, the first NFT to be offered by the auction house in company history. With an opening bid of $100, the work was created with the ability to generate new unique NFTs from itself every 28 days. REPLICATOR will be offered in an online-only auction, open for bidding to collectors around the globe on phillips.com from 12-23 April.
Edward Dolman, Phillips Chief Executive Officer, said, Phillips is pleased to begin our NFT journey with such a hugely celebrated digital artist who has both shaped and transcended the crypto community. REPLICATOR is a first-of-its-kind work to appear at auction, redefining the expectations of a work of art as it draws a compelling relationship between medium and form. We look forward to bringing this exciting project to new