• Sotheby’s new NFT platform features Paris Hilton and Pranksy’s collection

  • Leading auction house Sotheby’s has launched a new Metaverse-themed NFT platform.

    Called “Sotheby’s Metaverse”, the platform was announced in conjunction with the Natively Digital 1.2: The Collectors (ND1.2) auction, which will take place from October 18 to October 26. The sale includes 53 tokenized artworks from the coffers of 19 curators.

    The list of curators includes some of the top collectors in the NFT space, such as PleasrDAO, Pranksy and 888, as well as cryptocurrency-friendly stars such as DJ Steve Aoki and self-proclaimed “boss lady” Paris Hilton.

    “These collectors are people with deep histories and connections in digital art and media, many of whom started collecting before NFT became a common term and helped build the ecosystem from the ground up,” the exhibition description notes.

    The platform accepts payments in Bitcoin (BTC), Ether (ETH) and US Dollar Coin (USDC), as well as credit card payments and wire transfers. Sotheby’s Metaverse is powered by Mojito, an NFT studio and blockchain technology platform that develops and operates NFT marketplaces for brands and IP holders.

    ND1.2 collectibles feature prominent NFT projects such as Yuga Labs (Bored Ape Yacht Club), Dapper Labs (CryptoKitties), Art Blocks (Chromie Squiggle) and Ponderware (MoonCats).

    Sotheby’s was founded in London in the mid-1700s and has since grown into a multinational giant with operations in 80 locations in 40 countries. The company held its first NFT auction in April, selling $16.8 million worth of tokenized artwork in partnership with the digital artist known as “Pak”.

    In June, the auction house sold CryptoPunk #7523 – also known as “COVID Alien” – for a record $11.8 million, and last month, it partnered with Yuga Labs to host an auction of 101 Bored Ape Yacht Club NFTs that generated $24 million.

    Sotheby’s is no stranger to earlier iterations of the metaspace, either, and in June the firm opened a virtual gallery in Decentraland that depicted the auction house’s new Bond Street gallery in London.

    Built in Decentraland’s Voltaire arts district and featuring Sotheby’s London commissioner Hans Lomulder greeting guests at the door, the structure features COVID alien CryptoPunk and Robert Alice’s Intelligent NFT (iNFT).

    Virtual metaverse has been grabbing headlines lately, in part due to Facebook’s recent push to establish itself in the field.Facebook is allocating $50 million to a two-year fund to support the company’s goal of building its own metaverse.

    “The meta-universe will not be built overnight by one company. We will work with policymakers, experts and industry partners to make it a reality,” Facebook said in its funding announcement.

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