Sotheby's Historic Dutch Auction: Vera Molnár's Generative NFT Artworks Fetch $1.2M in Ethereum - Decrypt
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Sotheby's Historic Dutch Auction: Vera Molnár's Generative NFT Artworks Fetch $1.2M in Ethereum
'Themes and Variations' sold out in just an hour, with trading volume on the secondary market jumping as high as 457 Ethereum. Sotheby's Gen Art Program, featuring works by the 99-year-old pioneer artist
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Sotheby's held a historic Dutch auction for Vera Molnár's generative NFT artworks, which sold out in just an hour and fetched $1.2 million in Ethereum. This marked the debut of Sotheby's Gen Art Program, featuring works by the 99-year-old pioneer artist. The Dutch auction format, a first in Sotheby's history, started with a high price and gradually reduced until a buyer emerged. The trading volume on the secondary market also saw a significant increase, reaching as high as 457 Ethereum.
Top Highlights
- Sotheby's Historic Dutch Auction: Vera Molnár's Generative NFT Artworks Fetch $1.2M in Ethereum 'Themes and Variations' sold out in just an hour, with trading volume on the secondary market jumping as high as 457 Ethereum.
- Sotheby's Gen Art Program, featuring works by the 99-year-old pioneer artist Vera Molnár, made a sensational debut on Wednesday. This event was a Dutch Auction, a first in Sotheby's 300-year history, where the bidding process begins at a high price and is progressively reduced until a buyer emerges.
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