Celebrity Life

Auction house Sotheby’s is putting up 104 CryptoPunk non-fungible tokens (NFTs) for sale on 23 February at its New York City auction set.

The auction, titled “Punk It!”, will be held following a live exhibition of the iconic NFTs, which is set to begin on 18 February and will conclude on 23 February.

In a statement issued on 8 February, Sotheby’s said that the collection will be sold as a single lot and is expected to fetch between USD 20 to 30 million. According to Sotheby’s “the sale marks the highest valued estimate for an NFT or digital art ever offered at auction”.

Sotheby’s CryptoPunk NFT auction

Bidders can use cryptocurrency

The 104 CryptoPunks were acquired by anonymous collector ‘0x650d’. Like other CryptoPunks, the 104 in the lot have varied attributes — mohawk haircuts, sunglasses, hats, and other accessories.

According to Sotheby’s the particular group up for auction also “showcases the diversity embedded in the original algorithm”.

The auction house said that the entire lot of 104 CryptoPunks come from a single wallet, one that represents over 1 percent of the entire CryptoPunks collection. This makes the lot unique as one of the largest collections held by a single wallet.

Bidders will be able to use cryptocurrency. Sotheby’s is extending the facility for the winning bidder to make payment in Ether, Bitcoin, and USD Coin besides fiat currencies.

“CryptoPunks are the original PFP series that created the template for other NFT projects that have followed, and which helped propel NFTs to the global stage as one of the most recognisable visual styles that have become synonymous with the digital art movement,” Michael Bouhanna, Sotheby’s Co-Head of Digital Art, said in the statement.

Panel discussion

Sotheby’s will be holding a live panel discussion before the auction. It will focus on the history of NFTs and CryptoPunks, keeping in view their immense popularity among celebrities such as Jay-Z and Jason Derulo who adopted them as their profile pictures.

Speakers who would appear on the panel are yet to be announced.

CryptoPunks get the Sotheby’s treatment. Our next #SothebysMetaverse sale ‘Punk It! 104 CryptoPunks. 1 Lot.’ will be a landmark LIVE Evening Auction on February 23. A truly historic sale for an undeniably historic NFT project. pic.twitter.com/LAu6j8Atu3

— Sotheby’s (@Sothebys) February 8, 2022

The exhibition will be held at Sotheby’s New York galleries. A virtual exhibit will also be held at Sotheby’s HQ in Decentraland.

The highest price a CryptoPunk has ever fetched at a Sotheby’s auction is USD 11.75 million, when CryptoPunk #7523 went under the gavel in June 2021.

What are CryptoPunks?

CryptoPunks are pixelated portraits of punk rock cartoonish faces created by Larva Labs in 2017. The entire collection has 10,000 NFTs, each different from the other due to their unique mix of attributes.

Both as a collection and as individual tokens, CryptoPunks are among the most famous NFTs of all time.

(Main and Featured images: Sotheby’s)

The post Sotheby’s to Sell Single Lot of 104 CryptoPunk NFTs for Estimated US$ 20-30mn in February appeared first on Prestige Online - Hong Kong.

An NFT museum has opened in Seattle to explore the future of art.

Futuristic and digital museums are mind-boggling enough to keep visitors engaged with exhibits that come to life. This is exactly what one might find at the world’s first museum dedicated to non-fungible tokens (NFTs), which was opened in Seattle, US, on 14 January.

The Seattle NFT Museum is a classic example of the incredible hype and craze that blockchain-based digital artworks have created across the world.

What we know about the Seattle NFT Museum

What does the NFT museum feature?

Though its contents might be in digital form and are traded using cryptocurrencies, the massive approximately 278.7-square-metre museum is very much a physical entity. It showcases original NFT artworks, which detail the technology used to create them. Each exhibit is meticulously linked to its metadata and artist that gives holistic information about the creation to visitors.

Describing the idea behind the museum, its official website states, “Viewing digital art in a physical space helps to ground the NFT experience, unlocking our imaginations for what is to come. Seattle NFT Museum creators saw an opportunity to bring the digital art and NFT community together while providing exposure and education.”

“Art on exhibit at the Seattle NFT Museum lives on the blockchain and is displayed on loan from artists, creators, galleries, and collectors. You can expect our exhibition calendar to be packed full of influential works from around the world and local to Seattle,” it further states.

Museum experience and exhibitions

Aimed at making NFTs accessible and easier to understand, the Seattle NFT Museum has exhibits from across the globe as well as local artists, creating a never-seen-before experience for visitors.

The featured artworks are displayed in vivid colours and ultra-high-definition walls, transcending boundaries of physical space. The animated NFTs are in ceaseless motion, giving onlookers an experience of stepping into the NFT world.

With over 30 such high-tech screens displaying digital artworks, the website also states, “From 85” to 32”, across portrait and landscape orientations. The quality of these displays is the foundation of this immersive gallery.[sic.]”

The founders and featured artists

The museum is the brainchild of art lovers and entrepreneurs Jennifer Wong and Peter Hamilton who are focused on building a community.

Wong says, “The imagination of NFT artists and creators is thrilling. We wanted to create a space to serve the NFT community while helping put Seattle on the map as a hub for NFT and blockchain innovation. We’re not experts, and we’re here to learn as much as anyone. That is why we are counting on the feedback and support of NFT enthusiasts to continue growing the vision.”

The exhibits consist of a number of NFT collections by noted artists like Blake Kathryn, Neon Saltwater, Charles Peterson and Robbie Trevino.

When to visit?

Established in 2021, the Seattle NFT Museum is located at 2125 1st Avenue, in the iconic Belltown neighbourhood.

You can visit the museum from Thursday to Sunday between 12 pm and 5 pm. Several events and talks are held at the museum for which you can buy tickets. Either walk-in or visit with an appointment — be sure to be greeted to a world that will alter your idea of artworks, assets and investments.

(Main and featured image credit: Seattle NFT Museum)

The post All About the World’s First NFT Museum in US That Explores the Future of Art appeared first on Prestige Online - Hong Kong.