The Sotheby's auction, called the 'Grails' NFT collection, will take place during Marquee Sale Week at the firm's New York location.
, NFTs helped drive the auction house’s highest-grossing year ever in 2021. Michael Bouhanna, Sotheby’s head of digital art and NFTs, stated that the emergence of the Grails collection “marks a significant opportunity for collectors to celebrate the pioneering generative artists.”
“This expansive collection marks an important moment in the rise of generative art on the blockchain in 2021, and was guided by the 3AC ethos of acquiring the some of the highest quality and rarest works available on the market,” Bouhanna added. “Since that defining moment, when digital art and NFTs became a genuine pop culture phenomenon, generative art has continued to gain attention from a growing audience, including from major international institutions.
What are your thoughts on the popularity of NFTs and their impact on the art market? Share your opinion in the comments below.Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.
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