Sotheby’s to hold its first NFT auction on Nifty Gateway featuring digital ‘cubes’.

Founded in 1744, Sotheby’s auction house will conduct its first non-fungible token (NFT) auctions on the Nifty Gateway platform. The auction will run from April 12 to 14.

Nifty Gateway is excited to announce that we are working with @Sothebys to exclusively host «The Fungible» collection by @muratpak. This collaboration will push the #NFT space forward by redefining ideas around «value» in art.

1/2 Drop Details👇 pic.twitter.com/aFAXnDbfX1

— Nifty Gateway (@niftygateway) April 6, 2021

The Fungible collection was created by an anonymous artist, who goes by the pseudonym Murat Pak. He has become one of the notable figures in the digital art space due to his distinctive monochrome style.

According to анонсу, the collection will include NFTs in the form of digital «кубиков».

• A Cube (1);
• Five Cubes (5);
• Ten Cubes (10);
• Twenty Cubes (20);
• Fifty Cubes (50);
• Hundred Cubes (100);
• Five Hundred Cubes (500);
• Thousand Cubes (1,000).

For example, a buyer of six digital «cubes» will receive two types of NFT: one A Cube and one Five Cubes. The buyer of 26 «cubes» will receive three types of NFT: one A Cube, one Five Cubes and one Twenty Cubes.

Earlier, the producer of collectible vinyl figures Funko announced the release of its first NFTs in June. The starting price will be $9.99.

Earlier in April, Vogue Business reported that the Italian fashion house Gucci and a number of other luxury brands are preparing to release their own NFTs.

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