{"id":263997,"date":"2021-06-01T18:37:37","date_gmt":"2021-06-01T15:37:37","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sothebys-to-auction-worlds-first-known-nft\/"},"modified":"2021-06-01T18:37:37","modified_gmt":"2021-06-01T15:37:37","slug":"sothebys-to-auction-worlds-first-known-nft","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sothebys-to-auction-worlds-first-known-nft\/","title":{"rendered":"#Sotheby’s to auction world’s first known NFT"},"content":{"rendered":"

“#Sotheby’s to auction world’s first known NFT<\/strong>”<\/p>\n

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Sotheby\u2019s will auction off the world\u2019s first known NFT this week \u2014 and is pulling out all the stops as it attempts to give historical weight to the red-hot digital art craze.<\/p>\n

Kevin McCoy\u2019s \u201cQuantum\u201d \u2014 a simple red, blue and pink image which was created in May 2014 \u2014 will be sold alongside 26 other NFTs in an online auction running for one week starting Thursday.<\/p>\n

Sotheby\u2019s pulled no rhetorical punches in its descript<\/a>ion of McCoy\u2019s \u201cQuantum,\u201d drawing comparisons to Pablo Picasso\u2019s \u201cLes Demoiselles D\u2019Avignon\u201d and Marcel Duchamp\u2019s \u201cFountain\u201d as works that \u201cclose chapters on the art histories that came before, while anchoring a new flowering of human creativity.\u201d<\/p>\n

NFTs \u2014 also known as non-fungible tokens \u2014 are one-of-a-kind, verifiable digital assets. They first gained mainstream attention in March when Sotheby\u2019s rival Christie\u2019s sold an NFT by the artist Beeple for an eye-watering $69 million.<\/p>\n

\"Sotheby's
Sotheby\u2019s compared the NFT \u201cQuantum,\u201d made in 2014 by Kevin McCoy, to Pablo Picasso\u2019s \u201cLes Demoiselles D\u2019Avignon\u201d.<\/figcaption>
Sotheby’s\/Handout via Reuters<\/span><\/figcaption><\/figure>\n

Other pieces on sale in the Sotheby\u2019s auction include the first NFT by acclaimed Japanese artist Ryoji Ikeda and a rare \u201cAlien CryptoPunk\u201d NFT.\u00a0 Buyers will be allowed to pay in fiat currency, as well as cryptocurrencies bitcoin and ether, according to Sotheby\u2019s, which previously sold a series<\/a> of NFTs by the artist \u201cPak\u201d for $16.8 million.<\/p>\n

The auction houses\u2019 embrace of NFTs shows the growing acceptance of cryptocurrency and blockchain-related technology<\/a>, according to Nic Carter, a general<\/a> partner at blockchain-focused venture capital firm Castle Island Ventures.<\/p>\n

\"Also
Also included in the Sotheby\u2019s NFT auction is \u201cVisor\u201d by Mad Dog Jones, created in 2021.<\/figcaption>
Sotheby’s\/Handout via Reuters<\/span><\/figcaption><\/figure>\n

\u201cCertainly NFTs have greater mainstream cultural penetration than virtually any other concept that has emerged from the crypto space,\u201d Carter told the Post. \u201cNFTs are just another form factor for art, so it doesn\u2019t surprise me that brokers like Sotheby\u2019s and Christie\u2019s are embracing them.\u201d<\/p>\n

But people looking to make a quick buck from the next Picasso may soon face more scrutiny from regulators. Broker and broker-dealer industry self-regulator the Financial Industry Regulatory Authority\u00a0is currently examining NFTs and could eventually begin policing the market, the Post reported last month.<\/p>\n

\"Pixel
Pixel art image of the Cryptopunk #7523 non-fungible token (NFT) collectible created in 2017 is pictured in this May 31 handout from Sotheby\u2019s.<\/figcaption>
Sotheby’s\/Handout via Reuters<\/span><\/figcaption><\/figure>\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Sotheby’s to auction world’s first known NFT” Sotheby\u2019s will auction off the world\u2019s first known NFT this week \u2014 and is pulling out all the stops as it attempts to give historical weight to the red-hot digital art craze. Kevin McCoy\u2019s \u201cQuantum\u201d \u2014 a simple red, blue and pink image which was created in May…<\/p>\n","protected":false},"author":1,"featured_media":263998,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/06\/5-31-21-nft-sothebys-auction-01.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[107931,116,70729,72323,70535],"class_list":["post-263997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-6-1-21","tag-art","tag-christies","tag-digital-media","tag-sothebys"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/263997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=263997"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/263997\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/263998"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=263997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=263997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=263997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}