Sotheby’s, the famous luxury auction house, has auctioned off an NFT for close to $17 million.
The NFT was created by an anonymous digital artist, known as Pak, and bears the name “The Fungible”. The NFT was auctioned in a two-day sale on Nifty Gateway, finally being sold for $16,825,999.
The collection included several NFTs in the form of digital “cubes.” According to TheBlockCrypto.com, the individual NFTs were: A Cube (1), Five Cubes (5), Ten Cubes (10), Twenty Cubes (20), Fifty Cubes (50), Hundred Cubes (100), Five Hundred Cubes (500), and Thousand Cubes (1,000).
While the number doesn’t compete with the $69.4 million raised by Christie’s for its Beeple 5000-day collection sale, this collection still managed to raise several bids in the 48 hours it was listed.
Adding to that is the fact that the sale had some technical difficulties as there were some problems with processing credit card payments; however, the issue was solved soon after it was noticed and the sale was restarted.
Pak’s identity is a mystery, but the artist has been active in the world of digital art for more than 20 years. Pak uses technology to create artwork, also being the founder and lead designer of the studio Undream. Pak has also created an AI that finds and displays visual media, named Archillect.
Source: Theblockcrypto.com