NFT
Art auction house Sotheby’s expands into the NFT with the release of a specially curated peer-to-peer secondary marketplace. Through its Web3 division, Sotheby’s Metaverse will now offer direct transactions between collectors on its platform. The integrated sales system will be fully connected to the network via Ethereum and Polygon, and users will be able to pay with ETH or MATIC token.
Sotheby’s Metaverse says it will continue to pay royalties to artists through smart contracts on its resale platform, which automatically pays artists based on their chosen online royalty rate. The artists featured in the Sotheby’s secondary market change every few months.
The platform launches with the work of 13 leading digital artists, including Tyler Hobbs, Claire Silver, XCOPY and others. Sotheby’s Metaverse also plans to launch a digital art gallery via the Oncyber metaverse platform in June, featuring several rooms curated by different artists and collectors.
Image: TyN Magazine