Sotheby’s First Ever NFT Auction With Anonymous Artist Pak Ends Today

The world has changed in weird and mysterious ways ever since the current pandemic started, but the craziest development isn’t vaccine-hoarding or crypto-investing, it’s the world of purchasing NFTs, or non-fungible tokens. These unique units of data are stored on a digital ledger known as the blockchain that allows you to purchase a digital asset for your own personal use. NFT art auctions are all the rage right now, and even the renowned auction house Sotheby’s has gotten in on the action with their first NFT auction in collaboration with anonymous artist Pak. “The Fungible Collection” is live right now for bids and includes a number of limited and open-edition works that run the gamut from affordable to downright obscene in terms of price. When asked about the partnership, Pak had this to say: “With this kind of a scale, I expect it to play a major cultural role in telling the narrative of the digital world to the traditional world in terms of the medium definition and value creation.”