Sotheby’s will host on July 26 an auction as part of its Gen Art Program campaign.
The auction will be held online on the Metaverse platform using blockchain technology, and will feature the generated works of Vera Molnar, consisting of 500 images.
Prices will be listed in Ethereum, starting at 20 ETH, and the initiative has been labelled “a nod to crypto-collectors.”
Art Blocks Engine is the infrastructure solution in place to generate the non-fungible tokens associated with the images.
The program will be carefully supervised, showcasing three artists yearly as a new form of artwork.
In May of 2023, Sotheby’s launched a project to trade in non-fungible tokens from the bankrupt Three Arrows Capital hedge fund. This included the CryptoPunk #6649, the Ringers #879 and Fidenza #216.
