Sotheby’s, a leading fine art auction house, has launched an online secondary marketplace for curated non-fungible tokens (NFTs) through its Metaverse unit. The NFT marketplace will feature rotating works from digital artists and allow fully on-chain peer-to-peer transactions executed on Ethereum and Polygon blockchains, with artist resale royalties honored directly through marketplace smart contracts. Sotheby’s is expanding its push into digital assets and has previously sold a diamond for cryptocurrency at an auction in Hong Kong. The company will also hold sales of NFT artwork from the bankrupt hedge fund Three Arrows Capital during its Marquee Sale Week in May.
