Sotheby's sees RM69.31mil in first NFT sale

Auction house Sotheby's joins the NFT bandwagon, selling a series of digital illustrations by artist Pak for $16.8 mil (RM69.31mil). — Sotheby's & Pak/Handout via Reuters

Sotheby's hosted its first sale of art supported by NFTs, the trendy authentication technology, by artist Pak, with the works bringing in $16.8 mil (RM69.31mil), the auction house said Wednesday.

The Sotheby's foray into NFT selling comes just a little more than one month after the sale of the NFT of the work "Everydays: The First 5,000 Days" by digital artist Beeple for US$69.3mil (RM285.88mil) at rival Christie's.