Sotheby’s Embarks on NFTs With Digital Creator Pak’s ‘The Fungible Collection’

Source | Barrons

Sotheby’s will launch “The Fungible Collection,” its debut non-fungible token sale next week in collaboration with Pak, who became the first NFT artist to earn $1 million for their work in December, the auction house announced.

The collection includes open editions, wherein multiple buyers can purchase minted tokens for the same work at a fixed price of $500 per NFT, containing Pak’s artwork A Cube as well as six other works to be released over the course of three days.

The so-called “Fungible Open Editions” will be available for purchase starting at 1 p.m. EDT on April 12 via the digital art platform Nifty Gateway. Collectors can purchase as many fungible cubes as they wish during the sale period, and they will get a different set of NFTs based on the total cubes they own.

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