Sotheby’s Metaverse Ecosystem to Incorporate Secondary Trading Platform for NFTs.
Sotheby’s, the renowned auction house, has announced the integration of a secondary trading platform for non-fungible tokens (NFTs) within its Metaverse ecosystem, which serves as a platform for digital artwork and collecting.
The platform will showcase a curated collection of works by digital artists that will be freely navigated by collectors.
Each of the selected works will be presented with an expert report and thematic presentation.
The Metaverse platform was launched over a year ago, with the aim of featuring the vision of Sotheby’s digital art experts.
It continues to evolve to offer the community new and more convenient ways to purchase digital collectibles.
Sebastian Fahey, Managing Director, EMEA, Sotheby’s, stated,
“We’re continuing to evolve our ecosystem to offer the community new and more convenient ways to buy digital collectibles.”
The platform will feature works from 13 well-known digital artists, including XCOPY, Claire Silver, Tyler Hobbs, Diana Sinclair, Sam Spratt, Pindar Van Arman, Hackatao, and others, as per an announcement on Twitter.
Transactions on the platform will take place on the Ethereum and Polygon networks.
Collectors can purchase works using ETH or MATIC, with the artists receiving royalties automatically through smart contracts according to the rate they select.
Earlier, Sotheby’s announced the start of the sale of a collection of digital artworks that belonged to the bankrupt cryptocurrency hedge fund Three Arrows Capital.