NFT auctions are a rapidly growing segment of the crypto market
NFT auctions are a rapidly growing segment of the crypto market. Being a niche market at first, now NFT is getting recognition even in such a conservative area as operations of famous auction houses. For example, at the beginning of June, Sotheby’s organized a sale of NFT tokens. This event called “Natively Digital: Curated NFT Sale” will continue from 3rd till 10th June.
Among these offerings, there is the oldest NFT in the world: “Quantum.” It is a short animation by digital artist Kevin McCoy. The token was created back in 2014. Other lots at this auction include 26 more works, among which, for example, an NFT from the CryptoPunk collection. The starting price for these lots is 100$, and buyers will be able to purchase them with Bitcoin and Ethereum, as well as fiat currencies. On 5th June, as we are writing this, the current bid for “Quantum” surpassed 100 000$, and there are five more days ahead. Other lots attracted much interest as well.
Sotheby’s is an auction house with a long history dating back to its foundation in 1744. For most of its existence, it was selling works of fine and decorative art, jewelry, and collectibles. But in May of 2021, it has allowed paying in cryptocurrency for the first time, and then came an NFT sale. So, this market is changing rapidly, and we may see more connections between the world of digital tokens and traditional art auctions.
Seeing this trend, Alium recently became a part of the NFT universe too. We pioneered the concept of Initial NFT Offering at Private, Strategic, and Public Rounds, offering a collection of specially designed futuristic NFT cards. The sale was held on 19th May, and there is more news to come — stay tuned!