Sotheby’s is all set to launch its ‘Digital Art Day Auction,’ an online auction featuring unique digital artworks and NFTs from some of the top digital artists and NFT collections in the space. The event kicks off today at 2:00 PM EST and will last until October 2nd.
The sale aims to showcase the interplay between artistic creativity and technological novelty, with a wide array of digital artworks being offered. Some of the most important works and collections that will go on auction include:
- GRAILS: Starry Night
- GRAILS: Property from an Iconic Collection
- Fidenzas #373 and #762 (Tyler Hobbs)
- CryptoPunks #4993 and #976
- Chromie Squiggles #3992 and #2289 (Snowfro)
- Frammenti #448 (Stefano Contiero)
There will also be artwork from Jeff Davis, Kevin Abosch, Justin Aversano, ACK, Dmitri Cherniak, and other notable digital artists. Some of the top pieces are expected to sell between $80,000 and $120,000. According to a press release shared with Rarity Sniper, the sale will occur in three chapters:
- 1: Showcases rare and sought-after works.
- 2: Features generative artwork driven by computer algorithms, including work by Larva Labs, Tyler Hobbs, and others.
- 3: Features exceptional, unique artworks that express individuality and tell a distinct story.
The online auction from Sotheby’s is aimed at attracting both novice and experienced NFT and digital art collectors.
“We are thrilled to continue showcasing works by some of the most sought-after digital artists, who have played a pivotal role in pushing the boundaries of both the generative and crypto art movements,” Michael Bouhanna, Head of Digital Art and NFTs at Sotheby’s, told Rarity Sniper. “Our Digital Art Day auction is evolving into a monthly series, featuring exceptional works from the secondary market. Despite broader market trends, we continue to witness strong and growing demand at the higher end, particularly for pieces of outstanding quality.”
Top Auction Houses Have Embraced Web3
The top auction houses in the world are known for tradition and longevity. But that hasn’t stopped two, Christie’s and Sotheby’s, from delving into the world of Web3.
Christie’s, founded in 1766 in London, is the largest auction house in the world. With auction rooms in Paris, New York, London, Shanghai, and Hong Kong — it is known for selling rare, valuable artworks including Leonardo da Vinci’s ‘Salvator Mundi,’ which broke records when it sold for $450 million.
Sotheby’s was founded in London in 1744, and now has locations around the globe. Known for a focus on contemporary art, it has done record-breaking sales of works by artists like Koons, Basquiat, and hundreds more.
Despite Christie’s and Sotheby’s ties to tradition, they have both been bullish on nascent technologies like NFTs and digital art. Here are some of the Web3 headlines from the prestigious institutions:
Sotheby’s
- Sotheby’s Auctions Rare CryptoPunks & Beeple NFTs
- Sotheby’s to Auction Bored Ape NFT Once Owned by 3AC
- Bernar Venet To Release Debut Digital Art Collection with Sotheby’s
- Sotheby’s Debuts First Curated Auction of Bitcoin Ordinals
Christie’s
- Christie’s & Robert Alice Team Up for Generative Art NFT Auction
- Christie’s Teams with Gucci for AI NFT Collection
- Christie’s Moves On-Chain with New NFT Marketplace
As you can see, both auction houses have been dabbling in Web3 waters for the past few years. But recently, Sotheby’s looks to be more committed, especially with today’s launch of the Digital Art Day Auction.
The NFT market has struggled in recent weeks, so it will be curious to see what prices the NFT artworks fetch in the upcoming month. But considering the reputations of the projects and artists who are being curated, as well as the art house involved, we wouldn’t be surprised to see some high numbers. At Rarity Sniper, we’ll be on the lookout for any updates to the story.